A strategist at global investment bank JPMorgan says crypto is effectively nonexistent as an asset class for most large institutional investors. “The volatility is too high, the lack of an intrinsic return that you can point to makes it very challenging,” he added.
JPMorgan on Institutional Crypto Investing
JPMorgan Asset Management’s head of institutional portfolio strategy, Jared Gross, discussed crypto and institutional investors’ interest in the asset class on Bloomberg Friday. The senior investment strategist described:
As an asset class, crypto is effectively nonexistent for most large institutional investors … The volatility is too high, the lack of an intrinsic return that you can point to makes it very challenging.
Gross added that it is “self-evident” that bitcoin has not proven itself to be a form of digital gold or haven asset like some have hoped. He continued:
Most institutional investors probably are breathing a sigh of relief that they didn’t jump into t
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