Institutional investors are paying close attention to digital assets as Bitcoin (BTC) continues to soar past record-breaking levels, almost reaching the valuation of $24,000 for the first time in its history.
Recent findings from a Bank of America–Merrill Lynch survey conducted between Dec. 4 and 10 show that about 15% of fund managers with $534 billion under management believe Bitcoin to be the third-most crowded trade behind being long on technology shares and shorting the U.S. dollar. In addition, a recent Fidelity survey found that out of almost 36% of the respondents, or 774 institutional investors, own crypto assets.