Rise of Digital Asset Strategies: Investment Firms Appointing Leaders and Prioritizing Innovation
Summary:
Investment firms in the US and Europe are increasingly appointing senior executives to lead digital asset investment strategies, according to a new report. The survey found that 24% of asset management firms already have a digital assets strategy, with 13% planning to implement one in the next two years. The report also predicts that managers will prioritize trading and investment strategies, while noting a potential positive outcome from regulatory pressure. Furthermore, Ripple's recent legal victory may encourage more firms to adopt digital asset strategies. CoinShares, a European digital asset manager, reported a revenue increase of 33% in Q2 2023.
A new report from market intelligence firm Amber Data revealed that a growing number of investment companies in the US and Europe are hiring senior executives to lead digital asset investment strategies. The report, titled "Digital Assets: Managers' Data Infrastructure Fuel," found that 24% of asset management firms already have a digital assets strategy in place, and an additional 13% plan to implement one in the next two years. The survey, which included 60 investment professionals from the US, UK, and EU, also found that nearly half (48%) of the firms surveyed currently have digital assets in their portfolios. Looking to the future, the report predicts that managers will focus on trading and investment strategies, with a particular emphasis on creating innovative investment products. Despite regulatory pressure, the report suggests a positive outcome is expected in the coming years, noting that the SEC and CFTC are likely to provide more opportunities for investors. The recent partial legal victory for Ripple could also encourage more asset management firms to embrace digital asset strategies. In related news, CoinShares, a European digital asset manager, reported a revenue of $25.9 million in the second quarter of 2023, reflecting a 33% increase compared to the same quarter the previous year.
Published At
9/10/2023 6:05:26 AM
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