According to a survey by Binance, 63.5% of institutional investors said they were optimistic about the crypto outlook for the next year, and 88% said they were optimistic for the next decade.
Binance's Institutional Clients Remain Upbeat About Crypto
Binance, the world's largest cryptocurrency exchange by market capitalization, said its institutional clients are optimistic about the crypto outlook for next year and beyond, according to a survey conducted between March and May 2023.
In the study conducted by Binance Research and the Binance VIP & Institutional team, 208 customers were surveyed between March 31 and May 15.
Of those surveyed, 52% had under $25 million in managed crypto assets (AUM) and 22.6% had over $100 million in AUM.
According to the report, 63.5% of respondents said they were positive about the crypto outlook for the coming year, and 88% said they were optimistic for the next decade.
The survey also revealed that despite the negative market events experienced in the past year, respondents kept their crypto holdings. While 47% of institutional investors kept their crypto investments last year, more than a third increased their investments.
Only 4.3% said they expect to reduce their share of crypto over the next 12 months.
Institutional clients painted a positive picture in Binance's survey, despite the US Securities and Exchange Commission's regulatory crackdown on Binance and Coinbase earlier this month and the continued bear market that started last year.
*Not investment advice.