A Fifth of Financial Institutions May Trade Crypto – Survey
Around one in five institutional financial firms have plans to start buying and selling digital tokens within the next 12 months, according to a survey by Thomson Reuters, an international mass media and information firm.
The survey included more than 400 Thomson Reuters users.
Most of the firms planning to trade cryptocurrencies are looking to do it soon: of those who want 2018 to be the year they dip into crypto, 70% intend to do it in three to six months, the survey found, without disclosing which firms participated.
The institutions started noticing crypto during 2017, and their interest peaked when the price did – in December 2017, according to Sam Chadwick, director for financial and risk innovation at Thomson Reuters. But he also says that his conversations with clients suggest that hedge funds and other asset managers are looking more seriously at adding crypto to their portfolios.
Interestingly, the screen on Thomson Reuters’ Eikon data terminal that shows Bitcoin news and links – the Bitcoin landing page – is the second-most trafficked landing page among all currencies, after the one for the euro.
However, the world may need to wait a little bit for financial institutions to add crypto to their portfolios, at least until well-defined and not too constricting regulations are put into place. This may not be too far off, however, as trusted names such as Gary Gesler call for regulations, while stating that he sees great potential in cryptocurrencies.
