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Canada’s Institutional Investors and Crypto Assets
Nearly four in ten Canada-based institutional investors had exposure to crypto assets in 2023, marking a significant recovery from the 2022 market slump. The KPMG in Canada and CAASA survey highlighted that 39% of Canadian institutions reported having direct or indirect exposure to crypto assets in 2023, up from 31% in 2021.
Insights from KPMG Survey
- 75% of institutional investors held cryptocurrencies directly in 2023, up from 29% in 2021.
- 50% of investors had exposure to crypto through ETFs and other regulated products since 2021.
- Increased access to crypto holdings via public equities and derivatives among Canadian institutional investors.
Spot Bitcoin ETFs Approval Impact
Despite the approval of US spot Bitcoin ETFs early in the year, the exposure to crypto via exchange-traded funds remained unchanged among Canadian institutional investors.
Canada’s Crypto Adoption Trends
Mark Greenberg, Managing Director for Canada at Kraken, noted that crypto adoption continues to flourish in Canada, attracting interest from individuals, institutions, and various demographics.
Global Institutional Interest in Crypto
Analyst Mathew McDermott of Goldman Sachs predicts a significant increase in institutional interest in the global crypto market, expecting greater liquidity and the participation of pension funds and insurance companies.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
