According to a recent report by market intelligence firm Amberdata, investment firms in the United States, the United Kingdom, and Europe are increasingly appointing senior executives to lead digital asset investment strategies. The report, titled “Digital Assets: Managers’ Data Infrastructure Fuel,” reveals that 24% of asset management firms have already adopted a digital assets strategy, with an additional 13% planning to do so within the next two years.
The report emphasizes the seriousness and commitment of these firms towards implementing digital asset strategies, as almost a quarter of them have dedicated senior roles for overseeing digital assets. This reflects not only a seriousness about implementation but also buy-in from senior management.
The study surveyed 60 investment professionals, including asset managers, hedge funds, and other investors, in the U.S., U.K., and Europe. It found that approximately 48% of participants already include digital assets in their firm’s portfolio. Additionally, Amberdata predicts that more asset managers will continue to prioritize digital asset trading and investment strategies in the coming years.
Despite the regulatory pressure faced by the U.S. crypto industry from the Securities and Exchange Commission (SEC) and Commodities Futures Trading Commission (CFTC), the report suggests a potential positive outcome in the next few years. It states, “The good news is that the tide may be turning. In the next five years, the SEC and the CFTC are expected to be providing the most positive opportunities for investors in our study.”
The report also highlights Ripple’s recent partial legal victory against the SEC, suggesting that it may attract more asset management firms to adopt digital asset strategies. This legal win for Ripple indicates the potential for a more favorable regulatory environment in the future.
In related news, European digital asset manager, CoinShares, reported a total revenue of 20.3 million pounds ($25.9 million) in the second quarter of 2023, signifying a 33% increase compared to the same quarter of the previous year. This growth in revenue further emphasizes the growing interest and adoption of digital asset strategies by asset management firms.
Overall, the findings of the Amberdata report indicate a significant trend in the investment industry, with a growing number of firms recognizing the importance of digital assets and appointing senior executives to lead their investment strategies. This shift demonstrates the increasing maturity and acceptance of cryptocurrencies and other digital assets in the financial sector.