A survey commissioned by Fidelity Investments found that 47 per cent institutional investors believe crypto is worth holding in a portfolio. Of the 441 institutional investors, 72 per cent prefer to buy investment products that hold digital assets, and 57 per cent choose to buy them directly. (Bloomberg)
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A survey commissioned by Fidelity Investments found that 47 per cent institutional investors believe crypto is worth holding in a portfolio. Of the 441 institutional investors, 72 per cent prefer to buy investment products that hold digital assets, and 57 per cent choose to buy them directly. (Bloomberg)
Talking point: Institutional investors are looking to act as gateways to crypto for retail investors nervous about trading in the currency themselves. Fidelity has been showing an interest in crypto—it began mining Bitcoin in 2015 and launched a Bitcoin custody service earlier this year. The crypto space is already attracting Canadian investors. Ether Capital—whose board includes John Ruffolo, former CEO of OMERS Ventures, and Som Seif, CEO of Purpose Investments—launched in January 2018 to invest in companies working with Ethereum and to acquire Ethereum itself. CPPIB and the Ontario Teachers’ Pension Plan have only recently entered the venture market, so it remains to be seen whether they will also take an interest in cryptocurrencies.
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