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Canadian Institutional Investors Are Increasingly Infatuated with Crypto

Liputan6.com, Jakarta – According to a recent report conducted by public accounting firm KPMG, institutional investors in Canada significantly increased their cryptocurrency exposure last year compared to previous increases.

Reporting from CoinmarketcapSaturday (27/4/2024), in the survey, which received 65 responses from institutional investors and financial services organizations, found that almost 40% of participants reported having direct or indirect exposure to crypto assets in 2023, up from 31% compared to with a KPMG study in 2021.

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Of the respondents, 31 people were identified as institutional investors who managed assets of more than USD 500 million or the equivalent of IDR 8 trillion (assuming an exchange rate of IDR 16,191 per US dollar), while the remaining 34 were financial services organizations.

The survey revealed one-third of institutional investors have allocated 10% or more of their portfolios to crypto assets, showing an increase from one-fifth two years ago.

The survey highlights a maturing market and improving storage infrastructure as key factors driving institutional investors to invest in crypto assets.

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Additionally, financial firms expanding their offerings cite increased client demand for crypto asset services as a significant factor.

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The report also revealed half of institutional investors surveyed had exposure to crypto assets through Canadian ETFs, closed-end trusts, or other regulated products.

Additionally, 58% of participants have exposure through stock markets, such as Galaxy Digital on the Toronto Stock Exchange, which is up from 36% in 2021.

Exposure through derivatives markets also saw a significant increase, with 42% of institutional investors receiving exposure compared to 14% in 2021. The only decline occurred in venture capital firms or hedge funds, down to 25% from the previous year's 29%.

Disclaimer: Every investment decision is in the hands of the reader. Study and analyze before buying and selling Crypto. Liputan6.com is not responsible for profits and losses arising from investment decisions.

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Canadian Institutional Investors Are Increasingly Infatuated with Crypto

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