Research Study
2022 Institutional Investor Digital Assets Study
A first look at the results of our annual survey of institutional investors
by Fidelity Digital Assets
October 27, 2022 • 16 min read
Since 2018, Fidelity Digital AssetsSM has conducted an annual study to better understand institutional investors’ perceptions of and approaches to digital assets. In this preliminary report, we highlight key data from the Fidelity Digital AssetsSM 2022 Institutional Investor Digital Assets Study, including trends in overall adoption across the U.S., Europe, and Asia, and how various institutional investor segments are thinking about the role of digital assets in investment portfolios.
Despite market headwinds, adoption of digital assets among institutional investors surveyed increased in both the U.S. (42%) and Europe (67%), a respective 9-point and 11-point change year-over-year. Though they reported a small decline in adoption, Asian institutional investors remain the most accepting of digital assets among the regions with nearly 7 in 10 (69%) reporting an allocation to digital assets.
Digital asset markets are incredibly dynamic and 2022 has been no exception. This study reflects the sentiments and behaviors of respondents in the first half of the year, but we recognize that the market developments of the second half and the macro environment look different. As a result, in the coming months, a follow-up to this key findings report will provide additional analysis on how the events of the latter half of the year may have shifted some perceptions — along with more institutional investor insights into broader use of blockchain technology, like tokenization and DeFi.
Download a Full Summary of Key Findings Here
The research survey for this study was led by Fidelity Consulting and Strategic Insights with Fidelity Digital AssetsSM and The Fidelity Center for Applied TechnologySM. Conducted by Coalition Greenwich, the research followed a similar methodology to the previous three years, comprised of a detailed survey to better understand the overall attitudes and behaviors of institutional investors as it relates to digital assets. Field work was conducted between January 2, 2022, and June 24, 2022, with a total of 1,052 blind interviews of professionals from a variety of firms, completed via a mix of online surveys and one-to-one phone sessions. As in previous years, the survey spanned a variety of high-net-worth individuals and institutional investor segments, including financial advisors, family offices, crypto hedge and venture funds, traditional hedge funds, endowments and foundations, as well as pension funds and defined benefit plans.
The information herein was prepared by Fidelity Digital Asset Services, LLC (“FDAS LLC”) and Fidelity Digital Assets, Ltd (“FDA LTD”). It is for informational purposes only and is not intended to constitute a recommendation, investment advice of any kind, or an offer to buy or sell any asset. Perform your own research and consult a qualified advisor to see if digital assets are an appropriate investment option.
Digital assets are speculative and highly volatile, can become illiquid at any time, and are for investors with a high-risk tolerance. Investors in digital assets could lose the entire value of their investment.
Custody and trading of digital assets are provided by Fidelity Digital Asset Services, LLC, which is chartered as a limited purpose trust company by the New York State Department of Financial Services to engage in virtual currency business (NMLS ID 1773897). FDA LTD relies on FDAS LLC for these services. FDA LTD is registered with the Financial Conduct Authority under the U.K.’s Money Laundering Regulations. The Financial Ombudsman Service and the Financial Services Compensation Scheme do not apply to the cryptoasset activities carried on by FDA LTD.
To the extent this communication constitutes a financial promotion in the U.K., it is issued only to, or directed only at, persons who are: (i) investment professionals within the meaning of Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "FPO"); (ii) high net worth companies and certain other entities falling within Article 49 of the FPO; and (iii) any other persons to whom it may lawfully be communicated.
This information is not intended for distribution to, or use by, anyone in any jurisdiction where such distribution would be contrary to local law or regulation. Persons accessing this information are required to inform themselves about and observe such restrictions.
FDAS LLC and FDA LTD do not provide tax, legal, investment, or accounting advice. This material is not intended to provide, and should not be relied on, for tax, legal, or accounting advice. Tax laws and regulations are complex and subject to change. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.
Views expressed are as of the date indicated, based on the information available at that time, and may change based on market or other conditions. Unless otherwise noted, the opinions provided are those of the speaker or author and not necessarily those of Fidelity Digital Assets or its affiliates. Fidelity Digital Assets does not assume any duty to update any of the information.
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