1 in 4 investment firms assign senior execs to digital assets: Report

Bitcoin

An increasing number of investment firms in the United States and Europe are appointing senior executives to lead digital asset investment strategies, based on the findings of a market intelligence firm.

According to a recent Amberdata report titled ‘Digital Assets: Managers’ Data Infrastructure Fuel,’ 24% of asset management firms have adopted a digital assets strategy, with an extra 13% planning to do so in the next two years.

“These roles are being staffed up, with almost a quarter of firms with a senior role dedicated to digital assets, reflecting seriousness about implementation as well as senior management buy-in.”

Organizations with a senior role dedicated to dedicated asset strategy implementation. Source: Amberdata

The report surveyed 60 investment professionals across the United States, United Kingdom and the European Union. The interviewees included asset managers, hedge funds and other investors. 

It stated that roughly half (48%) of the study participants include digital assets in their firm’s portfolio.

The report further forecasts that over the next two years, managers will prioritize trading and investment strategies, with a strong emphasis on creating innovative investment products.

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The report points out that despite regulatory pressure from the United States Securities and Exchange Commission (SEC) and Commodities Futures Trading Commission (CFTC), there could be a positive outcome in the next few years.

“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 noted.

Additionally, it highlighted that Ripple’s recent partial legal victory may attract more asset management firms to adopt a digital asset strategy.

In recent news, European digital asset manager CoinShares’ reported total revenue of 20.3 million pounds ($25.9 million) in the second quarter of 2023, a 33% increase compared wit the prior year’s quarter.

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