Institutional Crypto Adoption Moves at Glacial Pace Despite Price Recovery
• 78% of institutional traders don’t plan to trade crypto in next 5 years, though sentiment is currently positive (bitcoin up 165% in 2023)
• Only 12% of traders surveyed plan to trade crypto, up slightly from 8% last year
• Crypto seen as too volatile - industry suffered bankruptcies and wider risk-off sentiment in 2022
• 9% of traders currently engaged in crypto trading, fueled by financial firms’ increased interest
• Traders less optimistic about blockchain technology - fallen to 7% from 12% last year