Institutions Embrace Crypto: Over 70% of Canadian Investors Hold Crypto in Portfolios

IconCrypto News Terminal24 Apr, 2024

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Institutions Embrace Crypto: Over 70% of Canadian Investors Hold Crypto in Portfolios

According to a report by KPMG, a global accounting firm, the adoption of cryptocurrencies among Canadian institutional investors has surged in the past year. The survey reveals that over 70% of Canadian institutional investors held cryptocurrencies in their portfolios in 2023, a significant increase from 42% in 2022 and 29% in 2021. This growth highlights the growing recognition of cryptocurrencies as a legitimate investment class among institutional investors. Previously on [date], a report by KPMG found that “more than seven in 10 Canadian institutional investors held cryptocurrencies in their portfolios last year.” That’s up from just 29% of respondents who said they held crypto in 2021, and a 14% increase from 2022 when 42% of respondents said they had exposure to crypto derivatives. The survey included responses from 65 Canadian institutional investors and financial services firms.

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