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As the industry matures, institutional interest in cryptocurrencies is growing.
According to a survey conducted on Dec. 8 by European investment firm Nickel Digital Asset Management, 85 percent of institutional investors and wealth managers have teams dedicated to reviewing cryptocurrencies and digital assets.
According to the study, the investors polled oversee $108.4 billion in assets. In September of this year, the London-based firm produced a survey revealing that 62% of worldwide institutional investors with no exposure to cryptocurrencies intend to make their first crypto investments within the next year.
It’s also worth noting that Wall Street veterans are making inroads into the crypto world. Matt Zhang, a former trading executive at Citi, has announced the formation of a new venture fund focused solely on cryptocurrency and blockchain firms.
The $1.5 billion multi-strategy fund, dubbed “Hivemind Capital Partners,” was previously mentioned in a Cointelegraph story as helping to “institutionalize crypto investing.”
Story by : Norvisi Mawunyegah