By CCN: While bitcoin bears gleefully proclaim that Wall Street will never embrace crypto, the evidence shows that major institutional investors already have.
Survey: 94% of Endowments Have Exposure to Crypto Industry
Global Custodian and The TRADE Crypto in partnership with BitGo found in a survey that 94 percent of 150 endowments invested in crypto initiatives in the past year amidst an intense bear market.
The survey discovered that 141 endowments have invested in the crypto market in the last 12 months, indicating a noticeable increase in institutional demand in the asset class.
Jonathan Watkins, managing editor, Global Custodian and The TRADE, said:
“It’s fascinating to see that despite the widely-publicised concerns around regulation, custody and liquidity, endowments have been factoring crypto-related investments into their allocations, and very few are showing intentions of stepping away. All the talk over the past 18 months has been around when institutional investors will begin participating in cryptocurrency investments, but it turns out they had already arrived, in the form of endowment funds.”
Investment firms such as Grayscale and Morgan Creek Digital also reported an increase in the inflow of capital from institutions in recent months.
This morning our team at Morgan Creek Digital announced a new $40 million crypto venture fund anchored by two public pensions.
The institutions aren’t coming.
They’re already here. 🚀
— Pomp 🌪 (@APompliano) February 12, 2019