Global investment bank JPMorgan conducted a survey of over 4,000 institutional traders and found that 78% of them have no plans to trade crypto or digital coins, while 12% do. In addition, 61% of traders “predict artificial intelligence/machine learning as the most influential in shaping the future of trading over the next three years.”
JPMorgan: 78% of Institutional Traders Surveyed Have No Plans to Trade Crypto
This article was published more than a month ago. Some information may no longer be current.
WRITTEN BY
SHARE
JPMorgan’s Institutional Trader Survey
Global investment bank JPMorgan has published the results of its annual e-trading survey for this year. The survey was conducted between Jan. 8 and Jan. 22, with the participation of 4,010 institutional traders from over 65 countries.
One of the questions asked in the survey was “Which option best describes your institutional work with crypto/digital coins?” 78% of traders said they “have no plans to trade crypto/digital coins” while 9% said they are currently trading them. In addition, 12% said they plan to trade this asset class.
JPMorgan is currently serving as a lead authorized participant for Ishares Bitcoin Trust (IBIT), the recently launched spot bitcoin exchange-traded fund (ETF) by Blackrock, the world’s largest asset manager. However, JPMorgan Chase CEO Jamie Dimon has insisted that bitcoin has no value. The executive calls the cryptocurrency “pet rock” and has advised investors to stay away from it. Nonetheless, he emphasized: “But I don’t want to tell anyone what to do. It’s a free country.”
The JPMorgan survey further reveals that 27% of traders predict that inflation will have the biggest impact on markets in 2024, closely followed by 20% believing the U.S. election will have the largest impact and then recession risk, which decreased to 18% from 30% in 2023. Additional top factors ranked by traders include geopolitical conflict, market and economy dislocation, and U.S.-China relations.
In addition, JPMorgan noted that 61% of traders “predict artificial intelligence/machine learning as the most influential in shaping the future of trading over the next three years,” adding: “This is an 8% increase in ranked importance since last year.” Meanwhile, the global investment bank said:
Blockchain/distributed ledger technology decreased in ranked importance from 12% to 7% in 2024.
What do you think about this JPMorgan survey? Let us know in the comments section below.
