Over 3 in 4 Wealth Managers Have a More Positive Outlook on Cryptocurrencies Since 2020

Over 3 in 4 Wealth Managers Have a More Positive Outlook on Cryptocurrencies Since 2020

Some of the findings include: 43 per cent now saying they now have a much more positive view of cryptocurrencies, with 35 per cent saying it has improved slightly. Looking at specific coins, 78 per cent of wealth managers and institutional investors now have a positive or constructive view of Bitcoin, with only nine per cent saying their perception of the cryptocurrency is negative. The corresponding figures for Ethereum are 77 per cent and seven per cent respectively. When asked to pick their three main reasons for developing a more positive view of cryptocurrencies since the crisis started, 58 per cent of professional investors cited strong capital growth, and this was followed by 53 per cent who said it is because many crypto and digital assets have shown attractive diversification benefits when compared to mainstream asset classes. Some 47 per cent of respondents included improving custodial services in their three main reasons for having a more positive view of cryptocurrencies, and 41 per cent cited growth in market capitalisation and its positive impact on liquidity , among their top three reasons. Fiona King , Head of Institutional Sales, Nickel Digital, commented “Many cryptocurrencies have performed well since the covid-19 crisis