JPMorgan’s recently published survey results unveiled that 72% of institutional traders have no plans to buy or sell cryptocurrency. 14% of them plan to invest in crypto in the next five years. Additionally, institutional traders forecast that recession risks will have the most influence on the markets in 2023.

JPMorgan’s Institutional Investor Survey

Global investment banking giant JPMorgan Chase unveiled the outcomes of its annual “e-Trader Edit” Survey on Thursday. Conducted in January, the survey provides “a glimpse of predictions for the coming year”, as 835 institutional traders from 60 countries partook in the survey.

The Survey asked institutional traders to share their plans for investing in crypto. JPMorgan revealed:

72% of all surveyed traders “have no plans to trade cryptocurrencies/digital currencies”14% of respondents forecasted that they won’t be trading now but might do so in five years. 88% are currently considering.

Furthermore, institutional traders believed that cryptocurrencies and digital currency would soon be a reality. “will see the largest increases in e-commerce volumes over the next year.” Additionally, “100% of responding traders predicted an increase in electronic trading activity”, JPMorgan noted.

Institutional Traders React to Recession and Inflation

The Survey also asked institutional traders about their economic outlook. “Traders forecast ‘recession risk’ will have the greatest impact on markets in 2023, closely followed by ‘inflation’ and ‘geopolitical unrest’”, JPMorgan stated, explaining:

For traders who forecasted “inflation”, we asked if this would have an impact on the markets. “What is your view of the impact of inflation when pricing for 2023?”44% predict that inflation will fall, according to traders.

Moreover, “58% of US traders surveyed expect US inflation levels to stabilize and 41% of UK traders surveyed forecast inflation will decline”, JPMorgan detailed.

Although JPMorgan surveyed a large number of institutional traders and found that they have no plans to invest in cryptocurrency. Nevertheless, there are other surveys that show increasing institutional interest in the asset class. An asset management firm survey from Devere Group found that 82% of millionaires surveyed wanted to know if cryptocurrencies could be added to their portfolios. A unique survey by Nickel Digital Asset Management revealed that institutional traders anticipate “a strong year for bitcoin”, 65% agreed that Bitcoin could reach $100,000. Last month, international investment banking giant Goldman Sachs ranked Bitcoin as the top-performing asset this year.

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kevin helms

Kevin is an Austrian economics student who discovered Bitcoin in 2011 and became an evangelist. His pursuits lie in Bitcoin security, open-source systems, network effects and the intersection of cryptography and economics.