KPMG Canada partner Kunal Bhasin says rising debt and increasing inflation have likely attracted institutional investors into crypto.
Canada-based institutional investors significantly increased their crypto exposure last year compared to the last bull run, a survey from accounting firm KPMG has revealed.
Nearly 40% of institutional investors reported having direct or indirect exposure to crypto assets in 2023 — up from 31% in KPMG’s 2021 study, the company according to an April 24 report.
KPMG received 65 responses, 31 of which identified as institutional investors with most managing more than $500 million in assets, while the remaining 34 were financial services organizations.