A large majority of institutional investors don’t plan to invest in or trade cryptocurrency, according to research by JPMorgan.
Of the 3,400 investors surveyed, 78% said it was unlikely their firm will invest in or offer trading services for crypto, Business Insider reported Wednesday.
However, 58% of respondents believe that crypto is “here to stay,” compared to 21% calling it a “temporary fad.”
The respondents represented 1,500 different institutions, with 89% saying saying their firm does not currently invest in or trade crypto.
Several banking giants have shown growing interest to offering crypto services to clients in recent weeks, with Goldman Sachs announcing Monday the relaunch of its trading desk after a three-year hiatus.
Another survey released Wednesday by Blind found that 57% of 1,800 tech professionals surveyed currently own some crypto.
Respondents included employees of JPMorgan along with tech giants like Amazon and Twitter.