Research Study
Institutional Digital Asset Survey Report
A preview and available download of our survey analysis — “A Review of the Institutional Investors Digital Assets Study (Phase II)”
by Ria Bhutoria
June 15, 2020 • 16 min read
Executive Summary
Understanding the preferences of major institutions and their behavior toward the digital assets industry is a core driver of product and business development at Fidelity Digital Assets®.
Fidelity Digital Assets®, Fidelity Center for Applied Technology® and Fidelity Consulting collaborated with Greenwich Associates to survey almost 800 investors. This year’s survey included over 300 more investors than last year’s, with a deeper dive into investor segments and the European market. The responses and insights are instrumental in gauging institutional interest and adoption of digital assets, as well as understanding the key barriers to participation in the asset class.
Survey Shows European Investors Generally Have More Progressive View of Digital Assets
The most recent installment was conducted blind by Greenwich Associates from November 2019 to early March 2020; Greenwich interviewed almost 800 investors across the U.S. and Europe. In each region, the number of investors surveyed was roughly equal at almost 400 investors per region. The first installment of The Institutional Investors Digital Assets Survey covered the period of November 2018 to January 2019 and surveyed over 400 U.S. investors. Thus, the year-over-year comparisons depicted below compare only the responses of U.S. investors.
The results show that European investors generally have a more progressive view of digital assets, made evident when comparing the responses across all categories. Among U.S. investors, we saw growth across all categories including familiarity, positive perception and appeal, current exposure, propensity for future investment and more in this year’s results. The strength of concerns about digital assets among U.S. investors also declined relative to last year’s survey. In this report, we provide key data points from the survey along with our incremental commentary and interpretation of the results based on our experience serving institutional investors in the digital asset industry.
To learn more about how institutions, advisors, and investors think about digital assets - not only overall, but also as a part of an investment portfolio, download the full piece.
The blind survey was executed in association with Fidelity Consulting Strategic Insights on behalf of Fidelity Digital Assets® and the Fidelity Center for Applied Technology® between November 19, 2019 and March 6, 2020. The survey included 774 institutional investors in the U.S. (393) and Europe (381), including financial advisors, family offices, crypto hedge and venture funds, traditional hedge funds, high-net-worth investors, pensions and defined benefit plans, and endowments and foundations.
The information herein was prepared by Fidelity Digital Assets, National Association (“FDA, NA”) 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. Digital assets are not insured or guaranteed by the Federal Deposit Insurance Corporation, or any other government agency, and are not obligations of any bank.
Custody and trading of digital assets are provided by FDA, NA, which is a national trust bank. FDA, LTD relies on FDA, NA 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.
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.
Past performance is no guarantee of future results. Investment results cannot be predicted or projected.
FDA, NA 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.
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