In the report, researchers write that in 2023, 39% of Canadian institutions invested in cryptocurrencies, which is 8% more than in 2021. The survey also showed that half of financial services companies also offer access to digital assets: in 2021, their share was 41%.
“Canada has played a leading role in developing a regulatory environment that supports cryptocurrencies. The first Bitcoin and Ether ETFs appeared here, and complex strategies were allowed here, including derivatives trading and Ether staking. These actions, coupled with rising crypto asset prices, are why institutional investors are increasingly interested in digital currencies,” writes KPMG Head of Emerging Technology Risk Kareem Sadek.
“Our surveys show that crypto assets are increasingly being viewed as an alternative investable asset class among institutional investors in Canada,” said Bhasin.