JPMorgan Strategist Says Crypto Doesn’t Exist in Institutional Investors’ Portfolios: Report

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A strategist at banking giant JPMorgan has reportedly said that crypto assets are still virtually non-existent for the majority of the institutional investing world.

In an episode of Bloomberg’s What Goes Up podcast, Jared Gross, head of institutional portfolio strategy at JPMorgan, says crypto is too difficult to integrate into institutional portfolios.

As an asset class, crypto is effectively non-existent for most large institutional investors. The volatility is too high, the lack of an intrinsic return that you can point to makes it very difficult.

Gross also says that despite Bitcoin bulls aiming for BTC to become a form of digital gold, it’s obvious that hasn’t happened.

Most institutional investors are probably breathing a sigh of relief that they haven’t jumped into this market and probably won’t be doing so anytime soon.

Contrary to what Gross says, Bloomberg Chief Commodity Strategist Mike McGlone said that in the near future, it would be risky for institutions not to have at least some allocation to crypto markets.

“So for me, the risk is going forward that I think for most large institutions on a five-year basis at least, the risk is not somewhat allocated to that space. And I’m not talking about the 20,000 highly speculative cryptos you can find on CoinMarketCap I mean top 10, top 100, an index that tracks them So definitely Bitcoin, Ethereum Yes they might go down but for me an index that tracks those it’s just going to keep doing what it’s doing and that kind of stuff often shapes that foundation.

The key takeaway right now is that the Fed continues to beat hard, all risk assets are down. Cryptos were fastest on the rise and fastest on the fall.

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