Share this article
eToro Survey Finds Pensions and Endowments Are Finally Waking Up to Crypto
The exchange quizzed 25 institutional players about crypto investing, including a couple of pension funds.
By Ian Allison
Updated May 9, 2023, 3:15 a.m. Published Jan 21, 2021, 2:12 p.m.
Some of the largest and most risk-averse asset managers, including the likes of pension funds and endowments, are now looking at crypto as an asset class, according to research released Thursday by trading platform eToro.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The eToro-commissioned market research, which quizzed 25 big institutions in Q3 2020 about investing in crypto, comes on the heels of news that BlackRock, the largest asset manager on the planet, is dipping its toe into bitcoin futures.
“The respondents included endowments and pension funds,” said Spencer Mindlin, an analyst at Aite Group who carried out the research. “Funds and asset managers made up a proportion and some of the banks have asset management divisions and we spoke with a couple of folks there too.”
The overarching response from participants (a split among banks, brokers, fund managers and custodians) was that the crypto market has matured towards being institutional-grade over the previous two years, and the time was right to get involved.
“People are recognizing that where it took other markets, say, 10 years to mature, the crypto market has taken two years to reach levels of liquidity that we see in other asset classes,” Mindlin said in an interview.
Read more: BlackRock Gives 2 Funds Go-Ahead to Invest in Bitcoin Futures
Regulated markets were the preferred execution venue of the respondents, followed by over-the-counter (OTC) market makers and crypto spot exchanges. Unsurprisingly, the possible launch of regulated funds and exchange-traded fund (ETF) products were stated as guaranteeing institutional growth.
The invitation to institutions looking at digital assets was further extended last week by news the U.S. Office of the Comptroller of the Currency (OCC) had granted crypto custodian Anchorage a national trust charter to become a “digital bank.”
Enlisting the help of digital asset custody specialists was also a priority, the research found, with the concept of so-called hot wallets (storage media connected to the internet for any significant length of time) generally viewed as inappropriate for the institutional market.
Read the full report:
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Robinhood leaning into advanced traders as crypto volatility reshapes user behavior
The trading platform is increasingly catering to advanced crypto traders with tools tailored to active, tax-aware users, its head of crypto said.
What to know:
- Robinhood is increasingly targeting advanced crypto traders with new features like tax-lot selection and deeper liquidity access.
- The platform, once known for attracting beginners, is seeing more experienced users shift from rivals like Coinbase.
Top Stories
