from Abra Capital Management, who provides insights in the Ask an Expert section about supporting client’s investment interest in cryptocurrencies.Since 2019, the crypto-focused subset of Fidelity’s institutional business has published a survey called the “Institutional Investor Digital Assets Study,” measuring trends in sentiment and adoption of crypto investing among institutional investors globally.
Price volatility and regulatory concerns were the two largest obstacles to investing in digital assets, as reported by U.S. survey participants. It’s important to note the latest survey only spans May 30, 2023, to Oct. 6, 2023, missing a critical year-end period during which bitcoin rose from approximately $28,000 to $42,300, driven largely by anticipation of the SEC’s approval of spot bitcoin ETFs which occurred later, in January of 2024. Perceptions have likely evolved meaningfully since the start of 2024 following crypto’s market capitalization climbing above $2.
Supported by major advances in industry infrastructure in 2023 spanning custody, trading, and asset management, investors now have a better – but still nascent – array of product options and investment platforms to not only help avoid the pitfalls of early-adopter risk but also to exploit early-adopter premia. These options, in addition to ETFs, include the increasingly prevalent SMA direct-index vehicle.
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