Multiple Crypto Assets All-Time-Highs (ATHs); Bitcoin, Ethereum
This year, in April before the crypto market started it’s downtown, near about 70% of surveyed global institutional investors planned to buy the crypto assets in the due course, ultimately. On behalf of Fidelity Digital Assets, more than 50% of 1,100 investors surveyed by Coalition Greenwich. As per Reuters, a crypto-focused arm of US- based mutual fund giant Fidelity Investments, between December and April said they had digital assets investment.
Nevertheless, since April, when multiple crypto assets striked their all-time-highs (ATHs), Bitcoin (BTC) is down by 54% , while Ethereum (ETH) lashed out by 60% from it’s own ATH in May. A significant outflow has been observed in the digital asset investment products. Before this sharp correction, around 90% of those interested in investing in crypto said, they expected their company’s or their client’s portfolios to combine direct or indirect exposure, within next five years, to crypto asset investment. The digital assets are an essential part of institutional portfolios, is a strongly believed by the respondents in Asia. 77% investors in Europe claimed crypto deserve a place in portfolios while the percentage is decreased to 69% in US.
For the time being, Neuman added that his more progressive, younger, tech-savvy clients have a greater focus on the asset class while more seasoned investors have a harder time getting into the space.