A new survey of about 800 institutional investors in the U.S. and Europe shows strong cryptocurrency adoption, particularly bitcoin. About 80% of institutions said they find cryptocurrency appealing, and 60% believe cryptocurrencies have a place in their portfolios.

Fidelity Digital Assets, the cryptocurrency arm of Fidelity Investments, announced Tuesday the results of a survey to better understand institutional interest and adoption of cryptocurrencies as well as key barriers to investing in them. It was conducted from November 2019 to March 2020. Fidelity Digital Assets offers a full-service, enterprise-grade platform for securing, trading and supporting cryptocurrencies.

A total of 774 institutional investors participated in the survey, 393 of which were in the U.S. while 381 were in Europe. Respondents include financial advisors, family offices, pensions, crypto and traditional hedge funds, high net worth investors, endowments, and foundations. This is the second consecutive year Fidelity has surveyed U.S. institutions but it is the first time it surveyed European investors. According to the results:

Breaking down the number, 74% of U.S. institutional investors find cryptocurrency appealing, while 82% of European investors do. “A notable contrast is that 25% of European investors find the fact that certain digital assets are free from government intervention to be appealing, whereas only 10% of investors in the U.S. feel this way,” the report further reads.

Moreover, 36% of respondents — 27% in the U.S. and 45% in Europe — revealed that they are currently invested in digital assets. Bitcoin continues to be the cryptocurrency of choice with over a quarter of respondents holding BTC while 11% have exposure to ETH. “Looking out five years, 91% of respondents who are open to exposure to digital assets in a portfolio expect to have at least 0.5% of their portfolio allocated to digital assets,” the report adds.

Three characteristics of cryptocurrencies are most compelling to both U.S. and European institutional investors. 36% of respondents said “uncorrelated to other asset classes,” 34% are compelled by innovative technology, and 33% by the high upside potential. The report notes:

Despite growing interest among institutions, obstacles remain to cryptocurrency adoption. 53% of respondents cited price volatility as the main reason, 47% said market manipulation, and 45% said “lack of fundamentals to gauge appropriate value.”

Fidelity Digital Assets president Tom Jessop commented on the survey findings: “These results confirm a trend we are seeing in the market towards greater interest in and acceptance of digital assets as a new investable asset class. This is evident in the evolving composition of our client pipeline, which spans from crypto native funds to pensions.”

What do you think about institutional interest in cryptocurrency? Let us know in the comments section below.

The post 80% of US and European Institutional Investors Find Cryptocurrency Appealing: Survey appeared first on Bitcoin News.

source: https://news.bitcoin.com/80-us-european-institutional-investors-cryptocurrency-appealing/

Immigrating to Canada during a pandemic can be a challenge for new permanent residents and many may be wondering how the government is addressing the situation.

Immigration, Refugees and Citizenship Canada has issued guidelines for permanent residence applicants who were planning to arrive and settle in Canada in the coming months and who may have seen the pandemic affect their plans.

The latest COVID-19 program delivery instructions for applications for permanent residence applicants in Canada and abroad were published on May 29, 2020, by IRCC.

Currently, the receipt of new applications for permanent residence continues.

Files that are incomplete due to missing documentation will be retained and reviewed within 90 days.

Completed new applications for permanent residence continue to be processed according to normal procedures.

However, if a new application lacks supporting documentation, an explanation should be added to the application referencing service interruptions due to coronavirus-related travel restrictions. Providing that explanation is important and may result in the application being promoted and reviewed within 90 days. New applications will be processed in the order in which they are received.

Failure to provide an explanation for an incomplete application or applications that are incomplete for reasons unrelated to the coronavirus pandemic may result in the file being rejected.

Principal applicants for permanent residents who are in Canada and have dependents abroad will continue to have their applications processed, but delays in processing may occur. However, the principal applicant should not be granted permanent residence if their dependents who are abroad are unable to travel.

When travel is again possible, applicants will be informed of the next steps.

Applicants for permanent residence who are in possession of a Confirmation of Permanent Residence (CoPR) or Permanent Resident Visa (PRV) must inform IRCC, using a Web form, if they cannot travel before the expiry date of the document.

Files will then be processed according to an applicant’s specific circumstances.

Those with valid COPR and PRV and who are unable or unwilling to travel must inform IRCC so a note stating their situation can be added to their file. A reminder must also be added to the file related to the expiry date of the document. If the event the applicant becomes able to travel before the expiry date of the COPR and PRV, they will be encouraged to use their existing document to land in Canada.

Individuals whose COPRs and PRVs have expired and who have informed IRCC of their inability or unwillingness to travel prior to the expiry date of the document will have their files re-opened and reviewed within 90 days.

Once the applicant has informed IRCC via the Web form that they can travel, the application can be reopened for re-approval provided the applicant and their family members, whether accompanying or not, have passed immigration medical examinations, criminal and security checks and have valid passports.

If the 60-day waiting period has passed and the applicant has still not informed IRCC that they are able to travel, a note must be added to the application for consideration after an additional 60 days.

Since the pandemic began IRCC has reiterated that it will not close or refuse applications that are currently in progress due to missing documents. IRCC has introduced a variety of special policy measures and increased flexibility during the COVID-19 pandemic to accommodate as many foreign nationals as possible.​

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