Endowment Funds Invest In Crypto — Survey
The results of a joint study of the companies Global Custodian, The TRADE Crypto, and BitGo showed that over 90% of the endowment funds regularly invest in cryptocurrency, as follows from the post on The TRADE Crypto website.
Most endowment funds (94%) directly or through third organizations made investments in digital assets during 2018. According to the survey, half of these companies are confident that these will not only be reimbursed but also bring profit. Only 7% of the organizations surveyed plan to reduce their investments in cryptocurrency.
The study participants identified obstacles to the development of the crypto sphere that prevent institutional investors from entering the market. Among the negative factors, there is a lack of reliability in the market infrastructure, its fluctuations, insufficient liquidity, and the absence of uniform regulatory requirements.
These factors, however, does not prevent representatives of endowment funds from trusting crypto assets and investing in them, Jonathan Watkins, the editor-in-chief of The TRADE Crypto, stated. He argues that for a year and a half, experts and analysts of the crypto market have expressed their wishes for the early involvement of institutional investors in the industry, who have long been its participants as endowment funds.
Earlier, Mike Novogratz, the head of the Galaxy Digital crypto bank, expressed confidence in an interview with Bloomberg that the participation of institutional investors in the crypto sphere will raise the price of bitcoin to $8000 within a year.