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Nickel Digital Sees Growing Institutional Demand in UK for Crypto
More than half of institutional investors plan to invest more in crypto by 2023, according to a survey.
Updated Sep 14, 2021, 1:44 p.m. Published Aug 24, 2021, 9:29 a.m.
Research by Nickel Digital, a digital asset hedge fund manager founded by former Goldman Sachs and JPMorgan investment professionals, found that more than half the U.K. institutional investors in a survey plan to increase their crypto asset exposure between now and 2023.
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- Of the 23 wealth managers and other institutions asked, 11 said they will add to their exposure, with a further six saying they will "dramatically" increase their exposure.
- The managers oversee $66.5 billion in assets and already have some exposure to digital assets.
- The long-term appreciation prospects of crypto assets was cited as the reason.
- Nine institutions said they have become more confident about how the asset class works, and nine cited the improving regulatory environment.
- Still, 16 expressed concerns relating to the relative size of the crypto market, issues with liquidity and a lack of transparency.
Read more: Nickel Digital Rotates Flagship Arbitrage-Strategy Fund Largely Out of Crypto Into Cash: Report
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