Recently, J.P. Morgan, an American multinational financial services company, in its latest e-trading trends survey of 835 institutional traders, attempted to gauge market sentiments for the coming year.
However, the findings appear very conflicted, especially concerning digital assets and trading. There was a topic regarding electronic trading, which included crypto commodities and derivatives, which saw an overwhelmingly positive response.
The participants have been highly positive about the electronic trading activity. The report from the survey stated:
“100% of responding traders predicted they will increase electronic trading activity.”
In addition, 58% of the responses to a question regarding the volume of crypto traded on e-trading platforms in 2023. The figure increased by 11% to a predicted 69% for 2024, suggesting that professional traders would be looking to increase their volume of crypto traded through digital platforms.
While these were some of the positive aspects, a question regarding focus and sentiment towards crypto assets saw 72% of those polled claim that the participants have no plans to trade in crypto or digital assets in 2023.
In response to the same question, 14% of the respondents claimed that they were not currently trading crypto but planned to do so within five years. Only 8% of participants said that they were currently trading digital assets.
In the last month, Todayq News reported a survey that revealed that more than 69%, nearly two-thirds of retail investors, are positive or had mixed feelings about the impact of the prolonged bear market that persisted through 2022. In addition, the report also indicated that although traditional asset classes struggle to encourage greater adoption among women, cryptocurrencies appear to be more successful.
The survey included almost 10,000 global retail investors across 13 nations and revealed that crypto is currently the most widely held asset among women after cash. Moreover, the survey’s findings show that women are becoming significantly more likely to hold cryptocurrency. According to the data, women’s ownership rose from 29% in the third quarter of 2022 to 34% in the final quarter.
JP Morgan is one of the leading investment firms and has been taking cautious steps toward digital assets. However, Jamie Dimon, its CEO, has been an outspoken critic of Bitcoin for the longest.
Very recently, Dimon was asked about his most recent position on cryptocurrency during a segment on CNBC. In response, he questioned why the panelists were wasting “any breath” talking about the issue before calling the leading digital asset a “hyped-up fraud” and a “pet rock.” In May 2021, he advised people to keep their distance from Crypto, and six months later, the crypto market surged more than 100% to a new all-time high.