Survey: Arab Institutional Players from UAE Plan to Increase Crypto Investments
The largely oil-dependent countries are now seeing a big opportunity in the widely emerging crypto space! The latest report shows that wealth managers and institutional players from the United Arab Emirates (UAE) are willing to increase their exposure to cryptocurrencies in the next two years by 2023.
A survey by London-based Nickel Digital Asset Management showed that top institutional players want to dramatically increase their exposure to digital assets. Anatoly Crachilov, chief executive and founding partner of Nickel Digital, said:
“Despite the recent correction in the crypto market, our survey confirms there is an ever-increasing appetite for this asset class among professional investors, willing to take [a] constructive longer-term view.
We are glad to see increasing adoption of digital assets by many family offices based in [the] UAE, as well as across the Middle East.”
In the recent market correction, institutional players have double down on crypto investments. Players like Ark Investments and Rothschild Investments have been gaining exposure to Bitcoin by investing heavily in regulated instruments like the Grayscale Bitcoin Trust (GBTC).
So far in 2021, there have been a total of $5.7bn inflow of institutional money in crypto assets. Of course, a massive 73 percent of the same goes to Bitcoin.
The Growing Demand for Crypto In UAE
The government of the UAE has yet to come up with official regulations for trading or using cryptocurrencies. But this hasn’t stopped investors from joining the market. Besides, a number of exchanges have secured legal licenses to operate within the Abu Dhabi Global Market.
In its recent survey by Nickel, a majority of the UAE-based cited the long-term capital appreciation as the reason behind investing in crypto. Besides, the investors noted that cryptos provide a larger liquidity pool and the improving regulatory environment is a good development.
However, the investors agreed that the lack of regulatory clarity was holding them to make bigger investments in this asset class.
- Michael Saylor Says “No New Orange Dots” Pausing Bitcoin Buys as Holdings Hit Record $79B
- Experts Turn Bullish on Pudgy Penguins as PENGU Leads Meme Coin Buys on Solana
- ASTER to Launch Phase 2 Airdrop on October 10 as Open Interest Tops $5B in Two Weeks
- El Salvador’s Bitcoin Holdings Hit $475M Profit as BTC Becomes World’s 7th Largest Asset
- Breaking: Bitcoin Hits New ATH Above $125k as ‘Uptober’ Kicks Off in Full Force
- Dogecoin Price Rebounds 15% From Buy Zone as Whales Add 30M DOGE – Can Bulls Push Beyond $0.30?
- FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?
- BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?
- Aster Price Eyes $3 After Channel Breakout as Open Interest Surges to $1.37B
- Will XRP Price Hit $5 if the SEC Approves ETFs This Month?
- Bitcoin Price Hits $120K Ahead of Q4 — Can Citigroup’s Forecast Hold Up?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
