Institutional participation in crypto, especially Ethereum, increased in 2022 despite the bear market, according to the latest findings of a survey by Fidelity Digital Assets.
Institutions investing in crypto increased in 2022 despite the bear market, according to a recent survey by Fidelity Digital Assets. Notably, the number of large investors betting on Ethereum has doubled in the past two years, as Chris Kuiper, head of research at Fidelity Digital Assets, revealed in a recent interview with Cointelegraph.
“The percentage of respondents who said they invested in Ethereum doubled from two years ago,” noted Kuiper.
Kuiper noted that the attractiveness of Ethereum in the eyes of institutions is likely to increase further, that after the merger Ether became a more environmentally profitable asset.
Overall, according to the same survey, institutional players are hoarding crypto despite the crypto bear market. At the end of the second half of 2022, 58% of surveyed institutions held cryptocurrencies, an increase of 6% from last year. Additionally, 78% planned to switch to crypto in the future.
The main reason for this, the survey shows, is the belief in the long-term upside potential of digital assets.
“They are indifferent to some of this crazy volatility and price because they see it from a very long-term perspective,” Kuiper explains.
For more details on how institutional capital flows into crypto, watch the full interview and don’t forget to subscribe to our channel.