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Nickel Digital’s recent survey suggests Institutions in the UK have plans to expand their crypto investments. According to the firm, half of the companies in the survey are ready to increase their crypto-asset tallies by 2023.
Out of the 23 companies in the discussion, six stated that they would boost their investments in cryptocurrencies.
The Tale of Crypto Adoption
Nickel Digital places the UK as a hotspot for institutional crypto investments. The firm believes a country is a good place for hedge funds to start their crypto journey. According to the company, the survey revealed the demand for crypto assets would skyrocket.
The survey shows that 16 of the 23 surveyed said the main reason for the growing interest is the long-term price growth of crypto assets. Also, some of them admitted they have some knowledge about digital assets. Furthermore, 9 of the 16 institutions confide in crypto investments due to the improving regulatory environment.
Even so, some institutions expressed their concerns about taking the crypto asset investment route. These concerns circled around the transparency of the cryptocurrency market. Moreover, others worry about the volatility of the digital currency markets. 15 of the 23 in question stated their worries about providing custodial services.
Good Times for Institutional Investors
Nickel Digital’s CEO, Anatoly Crachilov, gave a statement on the matter, saying,
“…. We would be honored to help forward-looking investors understand and navigate this nascent market by sharing our multiyear financial experience, originated in major Wall Street banks and now successfully applied to crypto ecosystem over the last few years.”
The CEO is confident that institutions will start looking at cryptocurrencies as asset classes. The firm’s head of sales, Fiona King, vows to help institutions solve their worries about investing in digital assets. Lastly, she supports institutions looking to venture into the cryptoverse.
Altcoins on the Watch
A recent report revealed that Institutions might have injected about $7.1M into products of Solana. Also, it depicts a bullish run that saw SOL climb more than 100% in August. Furthermore, it revealed that both $ADA and $ETH saw almost $5M worth of investments from institutions.
The value of Assets Under Management(AUM) recorded an increase of more than $50M this week as markets continue to rise. These big purchases may spell good times for crypto adoption worldwide.