Canada's institutional investors have shown a burgeoning interest in cryptocurrencies, with 39% reporting direct or indirect exposure to crypto assets, a notable increase from 31% in 2021.
A recent survey by KPMG in Canada and the Canadian Association of Alternative Assets and Strategies (CAASA) shows a notable increase in the adoption of cryptoasset products and services by financial organizations and institutional investors in Canada.
According to a recent report conducted by accounting firm KPMG, institutional investors in Canada significantly increased their cryptocurrency exposure last year.
KPMG Canada partner Kunal Bhasin says rising debt and increasing inflation have likely attracted institutional investors into crypto.
The Canadian financial sector witnessed a significant uptick in crypto adoption in 2023, according to a recent survey by KPMG in Canada. Financial firms offering crypto products and services increased by 22% from 2021, while institutional investors incorporating crypto into their portfolios rose by 26% during the same period.
Institutional investors located in Canada significantly increased their holdings of cryptocurrencies in 2023, a survey by KPMG found.
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