📣 Institutional investors in Canada increased their crypto exposure significantly last year, according to a recent survey by KPMG.

In a report released on April 24, KPMG revealed that 39% of institutional investors reported having direct or indirect exposure to crypto assets in 2023, up from 31% in 2021.

Last year, many crypto companies moved most of their operations to Canada due to tightening regulations in the United States. Coinbase, for example, is expanding its presence to the West Coast of Canada.

According to Kareem Sadek, executive at KPMG, Canada's approval of Bitcoin and Ethereum exchange-traded funds (ETFs) in February 2021 played a big role in attracting local investors to the crypto asset class.

The report revealed that half of the institutional investors surveyed had exposure to crypto assets through Canadian ETFs, closed-end trusts, or other regulated products.

What do you think about this trend? Share in the comments column! 😊