Share of cryptocurrencies in the capital of global banks reaches 0,01%

According to the data, bitcoin and Ethereum are the most popular assets for holding

03.10.2022 - 15:30

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What’s new? According to a recent report by the Basel Committee on banking supervision, cryptocurrencies have reached 0,01% of the world's banks. The report states that the 19 largest financial institutions hold €9,4 billion worth of cryptocurrencies. The regulator identified 3 groups of institutions, which included financial institutions from North and South America, Europe and other countries around the world.

The regulator's report

What does the report say? Analysts acknowledged the exponential growth of cryptocurrencies and reminded that it is difficult to assess their real level of impact. The report states the following:

“As the cryptoasset market is fast evolving, it is difficult to ascertain whether some banks have under- or over-reported their exposures to cryptoassets, and the extent to which they have consistently applied the same approach to classifying any exposures.”

According to the data, bitcoin and Ethereum are the most popular assets for holding. Among all 19 institutions, Bitcoin accounts for 31% and ETH for 22%. Bitcoin-based tokens account for 25% and Ethereum-based tokens for 10%.

In early September, HANetf conducted a survey among European asset managers and financial advisers, according to which 75% of respondents will increase their investments in cryptocurrency within 12 months. At that, bitcoin became the most preferred coin. More than half of respondents expect the regulatory framework for digital assets and cryptocurrencies to tighten over the next three years.

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