{"id":58641,"date":"2023-09-08T16:22:51","date_gmt":"2023-09-08T20:22:51","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/48-of-asset-managers-hold-crypto-for-clients-coalition-greenwich-report\/"},"modified":"2023-09-08T16:22:54","modified_gmt":"2023-09-08T20:22:54","slug":"48-of-asset-managers-hold-crypto-for-clients-coalition-greenwich-report","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=58641","title":{"rendered":"48% of Asset Managers Hold Crypto For Clients: Coalition Greenwich Report"},"content":{"rendered":"
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A new study reveals nearly half of institutions in the United States, UK, and Europe offer digital asset services to their clients.<\/p>\n

In a recent survey conducted by Coalition Greenwich and Amberdata<\/u>, 48% of asset management institutions manage crypto for their clients with a general bullish stance amid the bearish market outlook.<\/p>\n

The research titled, \u201cDigital Assets: Managers Fuel Data Infrastructure Needs\u201d <\/i>was conducted to understand how institutions implement digital assets services to their clients, user interaction and investment needs, products, and affiliated technologies.<\/p>\n

Per the report, 60 companies were surveyed across three jurisdictions with 25% having digital asset managers with related teams. This figure is expected to grow by a third as other firms show interest in expanding their firm\u2019s capacity in the next 12 months.<\/p>\n

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Shawn Douglass, the CEO of Amberdata noted that an interesting point is the bullish stance of most executives despite the regulatory uncertainty in the market specifically in the United States.\u00a0<\/p>\n

Although the Securities and Exchange Commission (SEC) has maintained a hard stance on digital assets with its renewed regulatory scrutiny leading to several lawsuits<\/u> with Web3 firms, asset managers still view the US market as a gold mine.\u00a0<\/p>\n

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\u201cinteresting to see that the respondents were so bullish on the U.S. positively supporting digital asset adoption, despite the lack of a clear regulatory environment.\u201d\u00a0<\/i><\/p>\n<\/blockquote>\n

The 52% of institutions not offering crypto services cited regulatory hurdles as a key reason for their position. These institutions listed several factors including the nature of cryptocurrencies, unclear regulations around tax, security concerns, and KYC issues.\u00a0<\/p>\n

Institutions still bullish on crypto<\/h2>\n

This year. institutional investors have garnered a renewed appetite for the market with a possible approval of a spot Bitcoin (BTC<\/u>) ETF by the SEC.\u00a0<\/p>\n

The recent institutional demand was sparked off by BlackRock\u2019s ETF application<\/u> which pushed the price of BTC slightly above $31,000 after other big investors applied for their spot ETFs.<\/p>\n

In the survey, asset managers expect the overall market to grow over the next five years, a point that has been noted by digital asset executives in the past.\u00a0<\/p>\n

\u201cEven after the collapse of FTX, most asset managers expect centralized exchanges to grow over the next five years,\u201d <\/i>they added.<\/p>\n

On regulations, 85% of institutions believe that the SEC will reduce the harsh stance and create more positive opportunities in the future.<\/p>\n

The respondents had a fair distribution of digital assets holdings creating a fair analysis of the market. 22% of firms posted assets under management (AUM) between $1-$10 million while 19% recorded an AUM between $11 million and\u00a0 $50 million.<\/p>\n

A key finding of the research was that while institutions began with traditional services like trading and investing, there is a growing interest in decentralized finance (DeFi) products.\u00a0<\/p>\n<\/p><\/div>\n