(Bloomberg) Almost three quarters of money managers in a Natixis survey say cryptocurrencies are not an appropriate asset class for retail investors.
The money managers, who a third of them increased crypto allocations, say the industry is set for a major correction next year.
The warnings come even as 28% of the polled institutions said they currently have crypto allocations, with almost a third of them expecting to increase the investments in 2022.
40% of the money managers in the survey still recognize digital assets as viable investment options but say regulators should come in.
The polled institutions in the Natixis survey manage combined assets running into $12.3 trillion and encompassed 500 firms in multiple countries.
BTCUSD is down -2.88%, ETHUSD is down -0.98%.
