Crypto assets have emerged to be a new asset class for many investors, most of whom entered the market in 2017. It is an interesting investment opportunity as it can be viewed with multiple lenses from a new currency that will replace the dollar to an uncorrelated asset that could be a hedge against the current financial system.
Many Crypto hedge funds emerged in 2017-18 to invest in ICO’s which have raised more money than traditional Venture Capital in 2017. This has caught the attention of bigger pools of capital like Family Offices, endowments, pension funds, etc.
Recently a poll was conducted of 100 Family Offices in an event FO256 which intended to bring Crypto entrepreneurs and Family offices together. The speakers included big names in Crypto like Jeremy Garnder, Ken Seiff, Andy Bromberg, Anthony Pompliano, Kyle Samani among others.
The majority (80%) of the Family Offices who attended the event had already invested in one or more Crypto assets, about 10% were close to or likely to invest by year end.
It is interesting to note that there is no clear consensus on how traditional investors view Crypto assets, A majority (38%) of attendees viewed it as a new asset class.
A majority of utility tokens issued by ICO’s seems to be closer to be securities (from a US Standard) although there is no regulatory clarity on it. So the funds could look at it as an investment in the private equities, which may not necessarily be the case for protocols like Bitcoin and Ethereum.
David Nage the organizer of the event Tweeted:
The poll also showed that a majority of investors (41%) their first non-Bitcoin/Ethereum investment in 2017. 32% of them had never invested in any other tokens apart from Bitcoin or Ethereum.
David concludes the survey with these following points:
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