KPMG Survey Finds 75% of Canada’s Institutions Owned Crypto Assets in 2023
In 2023, Canadian institutional investors significantly increased their cryptocurrency holdings, as per a KPMG survey. The rise is attributed to factors like U.S. debt and inflation, driving interest in alternative assets. The survey revealed a notable increase in institutional investor holdings of cryptocurrencies, exposure to crypto-related public equities, and interest in crypto derivatives products. However, wealth management firms offering financial advice for crypto saw a significant pullback. Canada's supportive regulatory environment and rising crypto asset prices are cited as reasons for the increased institutional interest in the crypto space. Many crypto companies moved their operations to Canada due to heavy U.S. regulatory scrutiny.
