The 303 professional investors surveyed represent a group that collectively manages $4.95 trillion in assets. The survey showed that 82% of the investors had a positive outlook on both bitcoin and ethereum and 88% said they or their clients were considering investing in cryptocurrencies.
Last week, just as the U.S. Securities and Exchange Commission has ramped up its pursuit of the crypto industry, BlackRock has requested the SEC’s approval for a spot bitcoin ETF with Coinbase as its custodial partner. BlackRock's interest has galvanized the crypto industry that had seen its enthusiasm sapped over recent months by regulatory action and a devestating price crash.
"As the world’s largest asset manager, BlackRock’s initiative to file a bitcoin ETF shows that there is increasingly strong demand for exposure to bitcoin among its clients, which include some of the biggest institutions in the world," Alex Adelman, the chief executive of bitcoin rewards app Lolli, said in emailed comments.
"BlackRock’s actions foretell that there will be a new wave of institutional bitcoin-related financial products to come, as other leaders on Wall Street quickly follow in BlackRock’s footsteps."