Institutional interest in digital assets is gaining traction. As of the end of Q1, more than 900 institutions based in the United States had disclosed spot Bitcoin exchange-traded fund (ETF) shareholdings exceeding $100 million, equating to $10.7 billion combined.
In addition, leading asset management firms, including BlackRock and Franklin Templeton, have launched tokenized treasury funds. Recent data indicates that more than $1 billion in treasury notes has been tokenized on public blockchain networks.
A bi-annual survey conducted by KPMG in Canada further found that institutional investors located in the region greatly increased their crypto holdings in 2023. According to KPMG’s survey, 22% more financial services organizations offered crypto asset products and services to clients last year than in previous years.
A total of 937 financial firms have disclosed their Bitcoin ETF holdings in Q1 2024.
To put things in comparison, Gold had just 95 firms invested in its first ETF quarter!
Read more on cryptonews.com