The vast majority of wealth managers across the United Kingdom, Germany, Italy and Switzerland, plan to increase their exposure to cryptos in the next 12 months.
That’s according to the results of a survey by HANetf, a London based ETF specialist focusing on thematic ETFs whereby you invest based on a particular theme.
They provide a number of crypto ETFs themself, with the survey asking 75 wealth managers whether they plan to increase their exposure to cryptos, including through proxies like thematic ETFs or equities, in the next 12 months.
75% said yes and only 25% said no in an indication that crypto adoption is set to increase in Europe in the coming months.
“Investors are increasingly interested in cryptoassets, despite the especially volatile start to this year,” said HANetf’s co-founder Hector McNeil.
These wealth managers also have a very positive view of bitcoin, at 57%, while eth was picked by only 15%.
In addition most consider cryptos to be most related to gold at 43%, while a fairly significant 33% compare it to tech stocks, potentially explaining some recent correlation between Nasdaq and bitcoin.
A further 20% see cryptos as a collectable, and only 4% see it as a class of its own even though studies have suggested bitcoin is not correlated to any asset in medium time-frames.
These results are based on a small size however of 75 wealth managers, but nonetheless indicate there’s a changing wind in crypto Europe.
Source: https://www.trustnodes.com/2022/09/08/75-of-european-wealth-managers-to-increase-crypto-exposure