Opinion: KPMG survey shows that Canadian institutional investors' interest in crypto assets will increase significantly in 2023

According to CryptoPotato, a recent survey by accounting firm KPMG showed that Canadian institutional investors significantly increased their exposure to cryptocurrencies last year compared to the previous bull market cycle. KPMG's semi-annual survey "Institutional Adoption of Crypto Assets" received 65 responses, including 31 institutional investors managing more than $500 million in assets and 34 financial services institutions. In a report released on April 24, KPMG revealed that in 2023, 39% of institutional investors reported that they had been exposed to crypto assets directly or indirectly, an increase from 31% in the company's 2021 study. In addition, the survey found that one-third of institutional investors allocated 10% or more of their portfolios to crypto assets, an increase from one-fifth reported two years ago. Kunal Bhasin, partner and leader of KPMG's Canadian digital asset practice, pointed out that companies seem to be exploring investments in alternative asset classes to hedge against depreciation and as a reliable store of value, especially amid concerns about increasing inflation and debt in the United States. The survey found that several reasons driving institutional investors' interest in crypto assets include market maturity and improved custody infrastructure. Financial firms cited increased customer demand for crypto asset services as a significant factor in their expansion into the space.