In the latest vote of confidence for the crypto space by traditional financial firms, Hedge funds plan to extensively expand cryptocurrency exposure by 2026, according to a new survey.

A survey of 100 hedge fund chief financial officers, conducted by fund administrator Intertrust, found that executives plan to hold an average of 7.2% of their assets in cryptocurrencies within five years. If replicated across the sector, that could equal a total of around $312 billion of assets in cryptocurrencies, based on data from Preqin’s forecast for the total hedge fund industry, Intertrust estimated.

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This shows a major appetite among hedge funds who are knee-deep in the industry. Current holdings in the sector are subject to speculation, but many big time managers have already committed sizeable amounts to bitcoin and cryptocurrencies. Seventeen per cent of respondents expected to have more than 10% in crypto, showing a large increase in interest, chiefly attracted by market inefficiencies and arbitrage opportunities.

Chief among which is Paul Tudor Jones, who just recently revealed that his holdings have increased to 5% and might increase further depending on Fed policies. Hedge fund manager Paul Tudor Jones has bought into Bitcoin, while Brevan Howard has been shifting a small portion of funds into crypto and its co-founder, billionaire Alan Howard, is a major backer of the industry, as reported by the financial times. Bitcoin is the biggest contributor to gains by US fund firm SkyBridge Capital, which was setup by former White House communications director Anthony Scaramucci. The manager bought late last year and trimmed his holdings going into April just before the plunge.

Of late, there has been growing enthusiasm of the long-term potential for cryptocurrencies, particularly with regards to El Salvador’s recent move to adopt the bitcoin standard as the country’s medium of exchange. Similar sentiment is shared in the hedge-fund world, with executive director at Quilter Cheviot Investment Management stating that hedge funds “are well aware not only of the risks but also the long-term potential.

On the other side of the pond, sharp scepticism among dinosaur asset managers who remain concerned about volatility and uncertainties over regulations. “For the moment, crypto investments remain limited to clients that have a high risk tolerance and, even then, investments are typically a low proportion of investable assets,” Morgan Stanley and Oliver Wyman, the consultancy, said in a recent report on asset management.

Bitcoin soared from less than $29,000 at the end of last year to over $63,000 in April, retreating to $30,000 and subsequently rallying to $40,000 where it currently exchanges hands.

Intertrust’s survey’s respondents include global funds which average around $7.2 billion in assets, also showed that North American, European and UK executives expect to have at least 1% of their portfolio in cryptocurrencies.

North American funds are set to have an average of 10.6% exposure, while those in the UK and Europe would reportedly average around 6.8%.

Read More: American Billionaire Carl Icahn is Optimistic about Bitcoin.

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