In a survey of more than 4,000 institutional traders, the global investment bank JPMorgan discovered that 12% of them trade digital coins or cryptocurrency, while 78% of them do not. Furthermore, according to 61% of traders, “the most influential factor in determining the future of trading over the next three years will be artificial intelligence and machine learning.”
Journal of Professional Traders, JPMorgan
The annual e-trading survey results for this year have been released by global investment firm JPMorgan. 4,010 institutional traders from more than 65 nations participated in the poll, which was conducted between January 8 and January 22.
Which answer best sums up your institution’s work with cryptocurrency and digital coins? was one of the survey’s questions. Of the traders surveyed, 78% stated they “have no plans to trade crypto/digital coins,” while 9% claimed they are doing so at the moment. Twelve percent also stated they intended to trade this asset type.
The world’s largest asset manager, Blackrock, has launched the spot bitcoin exchange-traded fund (ETF) Ishares Bitcoin Trust (IBIT), and JPMorgan is now functioning as a lead authorized participant for the fund. The CEO of JPMorgan Chase, Jamie Dimon, has maintained that bitcoin is worthless. The CEO warns investors against investing in the cryptocurrency, referring to it as a “pet rock.” He did, however, highlight, saying, “But I don’t want to tell people what to do. The nation is free.
According to the JPMorgan study, 27% of traders believe that inflation will have the highest impact on markets in 2024. This is closely followed by 20% who believe the U.S. election will have the biggest impact, and recession risk, which has dropped from 30% in 2023 to 18%. U.S.-China ties, market and economic disruption, and geopolitical war are among the other top variables ranked by traders.
Furthermore, according to JPMorgan, 8% more traders than the previous year “predict artificial intelligence/machine learning as the most influential in shaping the future of trading over the next three years,” with 61% of traders making this prediction. The global investment bank stated in the interim:
In 2024, the relevance of distributed ledger and blockchain technology dropped from 12% to 7%.
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