Executives of traditional traders believe that large companies in their segment would be interested in operating with cryptocurrencies, especially with bitcoin (BTC), according to a survey by the intelligence platform Acuiti, published by Cointelegraph. According to the report, about 100 platforms were launched for cryptoassets trading aimed at institutional clients.
Research shows increased adoption of digital assets among sales-side service providers (26%) than traditional trading (17%). However, in this case, adoption rates are limited to CME or Bakkt.
The report also points that all crypto trading companies evaluated in the report have seen increased interest in bitcoin derivatives. About 57% of traditional trading companies traded bitcoin, while 29% traded ethereum derivatives (ETH).
One of the survey´s findings is that while XRP is being ranked as the eighth most popular digital asset, the XRP/USD pair ranked fifth as the preferred cryptocurrency pair by institutional clients. The top three main considerations about the asset are liquidity, volatility and arbitrage opportunities.
Traditional traders concerned about reputation regarding cryptocurrencies
One of the biggest concerns among all the institutions surveyed, including those still hoping to trade digital assets such as cryptocurrencies, were the security vulnerabilities of exchanges and fears about hackers.
Another concern detailed in the report is the fear of reputational damage, which is why many institutions do not wish to offer digital assets in their portfolio.
While the survey still believes that adoption rates remain low, the future looks bright in terms of adoption. 97% of traditional trading companies are considering trading digital assets over the next two years.