A large majority of institutional investors donât plan to invest in or trade cryptocurrency, according to research by JPMorgan.
- Of the 3,400 investors surveyed, 78% said it was unlikely their firm will invest in or offer trading services for crypto, Business Insider reported Wednesday.
- However, 58% of respondents believe that crypto is "here to stay," compared to 21% calling it a "temporary fad."
- The respondents represented 1,500 different institutions, with 89% saying saying their firm does not currently invest in or trade crypto.
- Several banking giants have shown growing interest to offering crypto services to clients in recent weeks, with Goldman Sachs announcing Monday the relaunch of its trading desk after a three-year hiatus.
- Another survey released Wednesday by Blind found that 57% of 1,800 tech professionals surveyed currently own some crypto.
- Respondents included employees of JPMorgan along with tech giants like Amazon and Twitter.
See also: Goldman Sachs, JPMorgan, UBS Are Trading an ETP Tied to Polkadotâs Crypto
