Are institutional investors marching into the crypto market?
Xiaoran Huang,
Juan Lin and
Peng Wang
Economics Letters, 2022, vol. 220, issue C
Abstract:
This study focuses on institutional investors who have added crypto securities to their portfolios. Using quarterly data over the period 2018Q1–2021Q4, we document that the number of such institutions has been increasing steadily and that both younger and larger institutions with active strategies are more likely to hold crypto securities. Furthermore, we find robust evidence that institutional investors include crypto securities in their portfolios largely for diversification.
Keywords: Institutional investors; Crypto market; Diversification (search for similar items in EconPapers)
JEL-codes: G11 G20 G23 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (7)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:220:y:2022:i:c:s0165176522003305
DOI: 10.1016/j.econlet.2022.110856
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