Investors earmark further cash for bitcoin allocations
Bloomberg
Some 85% of European investors and managers with an existing bitcoin exposure plan to increase their investments over the next two years.
A survey of 50 institutional investors and 50 wealth managers with a combined $110 billion in assets, conducted in January, found that European investors anticipate growth in bitcoin s valuation over the next two years. All of the investors and managers already had some allocation to bitcoin, a spokesman said. The survey didn t note the breakdown of assets among institutional investors and wealth managers.
Respondents said bitcoin is also attractive as it can provide a tail hedge against excess monetary supply and the risk of decline in the value of government-backed currencies caused by the COVID-19 crisis.
Europe s wealth mangers increasingly focusing on Bitcoin: survey
New research with wealth managers across Europe reveals 18% believe clients have a very positive outlook on Bitcoin, which is driving them to make allocations to the cryptocurrency.
The survey, which was commissioned by Nickel Digital Asset Management (Nickel), the regulated and award-winning investment manager connecting traditional finance with the digital assets market, also shows that 42% of wealth managers are placing an increasing focus on Bitcoin with a view to allowing their investor to allocate to this new asset class.
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However, only one in five wealth managers interviewed said they have a good understanding of their clients optimal holding structures for Bitcoin and have existing relationships with service providers. One in three (32%) said they are providing execution only investment in Bitcoin to clients.
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