Bitcoin security still a concern for some institutional investors

Bitcoin security still a concern for some institutional investors

United Kingdom-based crypto fund Nickel Digital Asset Management released a survey of 100 wealth managers and global institutional investors to find out the biggest investor concerns associated with crypto. 

The survey features respondents from the United States, France, Germany, the United Arab Emirates and the United Kingdom, who collectively own $275 billion in assets under management.

Conducted online from May to June 2021, the survey found low confidence among institutional investors in crypto security, with 76% of respondents citing concerns about the security of custodial services as one factor stopping them from investing in crypto. 

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Respondents also identified the regulatory environment as a significant hurdle. Other important concerns included a lack of transparency and volatility, and a perceived lack of reputable fund managers offering crypto investment.

Nickel Digital co-founder and CEO Anatoly Crachilov said that institutional concerns over crypto custody and security come despite the industry seeing “very strong progress on that front.” Crachilov stated that crypto service providers have been increasingly deploying

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