JPMorgan Chase & Co headquarters in New York, US, September 19, 2013. Photo: Reuters/Mike Segar/File Photo
JPMorgan Chase & Co headquarters in New York. Photo: Reuters/Mike Segar/File Photo

Signaling that the institutional inflow of money into the crypto market is set to increase, a new survey found that more than one in five institutional investors at firms that do not currently trade in digital assets believe they will take the plunge in the future.

JPMorgan, which surveyed more more than 3,400 investors representing 1,500 institutions, found that 11% of respondents work at firms that trade or invest in crypto and 89% do not, Cointelegraph reports.

Out of respondents from firms that do not trade or invest in crypto, 22% said they believe their firms are likely to invest in crypto in the future.

But not all were enthused about the nascent asset class.

Fourteen percent said crypto is, as Berkshire Hathaway’s Warren Buffet so eloquently put it, “probably rat poison squared” and something to avoid like the plague. A further 21% think crypto is just a fad. Only 7% of investors think it “will become one of the most important assets.” 

Security is also a major concern. Ninety-eight percent of respondents believe fraud is “somewhat” or “very much prevalent” in the crypto space.