JPMorgan: 72% of institutional traders do not plan to trade cryptocurrencies

According to a survey conducted by investment bank JPMorgan, 72% of institutional traders are not going to trade cryptocurrencies in 2023.

In total, 835 traders from “60 global locations” took part in the survey. The topic of the study was the opinion of traders on the technical development of the industry and macroeconomic factors that will affect trading this year.. The survey was conducted from 3 to 23 January.

According to the results of the survey, the distrust of traders in digital assets became obvious. Only 14% of those surveyed said they would continue or start trading cryptocurrencies this year. Another 14% of respondents said they are considering doing so within the next five years.. At the same time, 92% of those surveyed said that they do not currently own digital assets.

One of the most important reasons was the volatility of digital asset markets – about half of traders believe that with such volatility it is difficult to show stable and positive results. Also, respondents point to the tightening of the monetary policy of the US Federal Reserve.

Interestingly, a recent survey by the deVere Group showed that 82% of dollar millionaires surveyed were interested in investing in digital currencies, including bitcoin.