State Street: Investors are unfazed by the crypto winter

• State Street is the fund administrator of the Cosmos Purpose Bitcoin Access ETF launched in May.
• The bank’s crypto unit has continued to see client interest even amid the crypto downturn.

Institutional investors are not sweating on continuing crypto winter, says global banking giant State Street.

Even as the crypto industry navigates the unforgiving downturn that characterised the 2022 market, the US lender says investors are largely undeterred – indeed pointing to unrelenting interest in cryptocurrency and the underlying blockchain technology.

Institutional clients continue to eye crypto as an asset class

According to Irfan Ahmad, State Street Digital’s crypto lead for Asia Pacific, summer’s events have done very little to investor appetite for digital assets. While the period was generally quiet as the analyst notes, the massive volatility that swung bitcoin to under $20k hasn’t really swiped sentiment.

Ahmad told the Sydney Morning Herald that State Street’s crypto unit continued to see institutional clients make moves, with the June-July madness dotted with increasing bets on crypto. He says undeterred clients kept “placing strategic bets on the asset class itself.”

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