American hedge funds say they will keep some of their holdings in cryptocurrencies within five years.
Hedge funds expect to hold 7 percent of their assets in cryptocurrencies by 2026, according to a Financial Times report, which cited a recent survey of finance directors by Intertrust. According to estimates, this could amount to roughly $312 billion worth of cryptocurrencies.
North American CFOs have a stronger-than-average appetite for the new asset class and expect total holdings to reach 10.6 percent. Their European counterparts are more conservative and content with an average risk of 6.8 percent.
As previously reported, Paul Tudor Jones, one of the most successful hedge fund managers on Wall Street, said on June 14 that he wanted a 5 percent Bitcoin allocation. Another prominent investor, Stanley Druckenmiller, also predicted that a new cryptocurrency could surpass Ethereum when launching Bitcoin in a recent interview.