New Survey Shows Increasing Interest In The ICO Market From Institutional Investors

A new study conducted by the Global Blockchain Business Council (GBBC), shows that a large percentage of institutional investors are looking at the ICO sector with more interest in spite of the ongoing bear market.

The survey results, shared with Cointelegraph on Feb.14, show that a whopping 41% of institutional investors believe they will be entering the ICO market in the next 5 years, while 16% said they will enter the sector in the next 3 years.

Around 23% of polled institutional investors expressed their belief that the ICO market does not hold investment potential, while 19% thought that virtual assets will be regularly traded and invested in by 2021. The survey was conducted by the market research company PollRight between Dec. 2018 and Jan. 2019. Responses were gathered from 71 global institutional investors, including hedge funds, private equity, and pension funds.

The CEO of GBBC, Sandra Ro, underlined the finding from their poll that cryptocurrency and digital assets would account for at least 10 percent of the global GDP by the year 2027. The GBBC is a Swiss-based non-profit organisation that aims to advance the understanding of blockchain technology among global regulators and business leaders.

Two other GBBC surveys were released, and shared with Cointelegraph last month. The first revealed that 63% of senior business executives lacked understanding of blockchain technology, while the second showed that 40% of institutional investors consider blockchain technology as the most important innovation since the Internet.