74% of institutional investors plan to buy digital assets, Fidelity survey shows

Some of the largest cryptocurrencies by market cap (BTC-USD) (ETH-USD) (ADA-USD) (SOL-USD) have plunged at least 70% from their November 2021 peaks amid broader headwinds in the digital assets space, but that isn't preventing institutional investors from wanting to get involved. As such, 58% of institutional investors recently surveyed by Fidelity's Digital Assets division had already taken stake in digital assets during the first half of 2022, and 74% of the respondents planned to invest in the future, according to the survey, which was conducted between January 2 and June 24 and included 1,052 institutional investors globally. “The increased adoption reflected in the data speaks to a strong first half of the year for the digital assets industry,” said Fidelity Digital Assets President Tom Jessop. ”While the markets have faced headwinds in recent months, we believe that digital assets fundamentals remain strong and that the institutionalization of the market over the past several years has positioned it to weather recent events,”Not surprisingly, crypto hedge funds and venture capital funds accounted for the vast majority of respondents (87%) who currently buy digital assets, followed by high net worth individuals (82%), financial advisors (73%) and family offices (37%). But the survey also found some obstacles acting as barriers to institutional investment, with price volatility(50%) representing the biggest such issue among...