A new study of institutional investors and wealth managers, who collectively manage around USD108.4 billion in assets, reveals 85 per cent now have dedicated teams reviewing cryptocurrencies and digital assets.

The research, which was commissioned by London-based Nickel Digital Asset Management (Nickel), a European digital assets hedge fund manager founded by senior traders and investment professionals formerly from major financial institutions including Goldman Sachs and JPMorgan, reveals 21 per cent of these teams have only been running for the past three months, and 42 per cent were established between three and six months ago. Around 31 per cent were established between six months and a year ago while just 5 per cent have been operating for over a year.

Of those that do not currently have dedicated teams in this area, only 7 per cent said they have no plans to set them up.