Whereas the present Bitcoin (BTC) and cryptocurrency cycle is pushed by institutional buyers, not like different cycles, a brand new survey has yielded shocking outcomes.
A latest survey by Financial institution of America (BofA), one of many largest banks within the US, revealed that 97% of institutional buyers are staying away from cryptocurrencies.
Based on information shared by ETF Retailer founder Nate Geraci, the overwhelming majority of world fund managers nonetheless function with zero publicity to cryptocurrencies.
A good portion of institutional buyers taking part within the BoF survey acknowledged that they don’t maintain any cryptocurrencies of their portfolios.
In distinction, whereas a big phase reported crypto investments, the common portfolio allocation among the many small phase that invested was solely 3.2%.
Lastly, investor sentiment for shares improved considerably within the August survey, which discovered {that a} internet 14% of institutional buyers now personal extra shares than their index counterparts, in comparison with simply 2% a month earlier.
Specialists checklist the persevering with uncertainty surrounding US rules, excessive volatility, and the seek for different secure havens as causes for institutional fund managers’ restricted curiosity in cryptocurrencies.
*This isn’t funding recommendation.
