Global Fund Managers Remain Wary of Crypto Despite Bullish Market Momentum

A Bank of America survey reveals persistent hesitation among global fund managers toward cryptocurrency investments, even as the sector shows bullish momentum. The study, encompassing 211 managers overseeing $504 billion in assets, found 75% hold no crypto exposure. Those with allocations average just 3.2%, with only 1% exceeding 8% exposure. Across the entire group, crypto represents a mere 0.3% of assets under management.

Bloomberg ETF analyst Eric Balchunas speculates this caution stems from past missteps. "Aren’t these the same 'global managers' who said they were selling America in Q1?" he remarked, suggesting their track record warrants skepticism. Others see untapped potential. GSR’s Frank Chapparo notes, "Wall Street’s reluctance signals room for growth as institutional adoption lags behind retail enthusiasm."