More Than Seventy Percent Of Institutions Expect To Invest In Crypto, Survey Shows

A vast majority of institutional investors expect to invest in or buy cryptocurrencies in the future, despite the market's high volatility standing in the way of new entrants.

What Happened: According to Reuters, seven out of ten institutional investors expect to gain exposure to crypto based on the results of a survey seeing the participation of 1,100 institutional investors.

More than half of the participants also said they already had digital asset investments.

The study, conducted by Coalition Greenwich and commissioned by Fidelity Digital Assets, also revealed that about 90% of those interested in investing in crypto in the future also expect their company's or their clients' portfolios to include exposure to the cryptocurrency industry within five years.

This included both crypto ownership, stocks of firms operating in the space, or investment products.

What Else: The firms who took part in the study cited volatility as the biggest obstacle to adoption, followed by an alleged lack of fundamentals and concerns over purported market manipulation.

Despite the overwhelmingly positive institutional outlook, the cryptocurrency market saw a significant slump recently. Bitcoin is trading at about $29,700 as of press time — after losing $30,000 earlier today — a far cry from April's high of over $60,000.

Read also: Nearly Half Of Goldman Sachs' 'Ultra-Rich' Clients Want Crypto In Their Portfolios