Wall Street Remains Cautious About Crypto Despite Growing Adoption

A recent survey by Bank of America sheds light on the continued reluctance of large investors to embrace cryptocurrencies despite increasing adoption and market growth. The poll, which surveyed 211 portfolio managers managing a combined $504 billion in assets, revealed that most respondents maintain minimal exposure to digital assets. In fact, nearly all respondents reported no allocation to crypto at all. 3.2% of those who did take positions allocated just 0.3% to the asset class on average. This highlights the continued cautious stance of major investors.