KPMG Survey Finds 75% of Canada’s Institutions Owned Crypto Assets in 2023

Wealth management saw a pullback, with only 14 percent of firms offering financial advice for crypto to their clients at year-end 2023, down from 42 percent the last time the survey was conducted two years prior.The consulting group recently conducted its bi-annual Institutional Adoption of Cryptoassets survey, finding that Canada’s investment sector has re-embraced crypto after a tumultuous year for the industry in 2022.

The most notable increase could be seen in institutional investor holdings of cryptocurrencies, which jumped to 75 percent in 2023 from 29 percent two years earlier. There also seemed to have been increased interest in crypto derivatives products, which 42 percent of the firms reported being exposed to versus just 14% previously.

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