Only 10per cent of institutional investment firms surveyed by JPMorgan trade cryptocurrencies, with nearly half labelling the emerging asset class as"rat poison" or predicting it would be a temporary fad.
Bitcoin, the world's largest cryptocurrency, fell to a five-month low on Tuesday, extending losses from China's deepening crackdown on mining and trading cryptocurrencies. The U.S. Securities and Exchange Commission has said it would like to see more regulation around trading in the space.