Senior executives leading the way
An increasing number of investment firms in the United States and Europe are appointing senior executives to lead digital asset investment strategies, according to a recent report.
Adoption and future plans
A market intelligence firm, Amberdata, found that 24% of asset management firms have already adopted a digital assets strategy, with an additional 13% planning to do so in the next two years.
Seriousness about implementation
The report revealed that almost a quarter of firms have dedicated senior roles for digital assets, indicating a seriousness about implementation and buy-in from senior management.
Survey findings
The report surveyed 60 investment professionals across the United States, United Kingdom, and the European Union, including asset managers, hedge funds, and other investors. It found that 48% of participants currently include digital assets in their firm's portfolio.
Prioritizing trading and investment strategies
The report forecasts that over the next two years, managers will prioritize trading and investment strategies, with a focus on creating innovative investment products.
Potential positive outcome
Despite regulatory pressure from the United States Securities and Exchange Commission (SEC) and Commodities Futures Trading Commission (CFTC), the report suggests that there could be a positive outcome in the next few years. It expects the SEC and CFTC to provide the most positive opportunities for investors.
Ripple's influence
The report also highlights that Ripple's recent partial legal victory may attract more asset management firms to adopt a digital asset strategy. Ripple's legal win has been seen as a positive development for the digital assets industry.
Continued growth
In other news, European digital asset manager CoinShares reported a 33% increase in total revenue, reaching 20.3 million pounds ($25.9 million) in the second quarter of 2023 compared to the previous year’s quarter. This further demonstrates the growing interest and potential in the digital asset market.
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https://trendinginthenews.com/crypto-currency/g20-leaders-push-for-speedy-implementation-of-crypto-asset-reporting-framework
