Research by Nickel Digital, a digital asset hedge fund manager founded by former Goldman Sachs and JPMorgan investment professionals, found that more than half the U.K. institutional investors in a survey plan to increase their crypto asset exposure between now and 2023.

• Of the 23 wealth managers and other institutions asked, 11 said they will add to their exposure, with a further six saying they will "dramatically" increase their exposure.
• The managers oversee $66.5 billion in assets and already have some exposure to digital assets.
• The long-term appreciation prospects of crypto assets was cited as the reason.
• Nine institutions said they have become more confident about how the asset class works, and nine cited the improving regulatory environment.
• Still, 16 expressed concerns relating to the relative size of the crypto market, issues with liquidity and a lack of transparency.