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Since the end of 2021, global financial markets have gone through turbulent times. With valuations tumbling over 60% compared to peak levels seen in 2021, crypto and blockchain markets were particularly affected. Despite these turbulences, crypto / blockchain has established itself as an essential part of professional and institutional investing (as our PwC Strategy& European Crypto Survey 2022 indicated, retail investors have embraced the opportunity even earlier). Across the globe, banks have been enhancing their crypto / blockchain offering for professional and institutional clients, adding products and services such as “institutional-grade” custody solutions, crypto funds, and mandates or derivatives.
For the Swiss market, recent studies indicate growing interest from banks in investing in crypto / blockchain ventures. These developments raise two fundamental questions:
In this report, we have surveyed banks as well as professional and institutional investors across the Swiss and Liechtenstein financial services sector to analyze their overall sentiment in relation to the crypto / blockchain asset class.
1. A growing share of banks and professional and institutional investors across Switzerland see crypto / blockchain as a relevant business or investment opportunity
2. While crypto / blockchain plays a crucial role in strategy and investment considerations for Swiss banks and professional investors, the current offering from banks seems not to meet investor needs
3. While the majority of family offices are planning to start or increase their crypto / blockchain investments in the near future, pension funds show less interest
4. In order to differentiate, banks must go beyond the basics (execution-only / custody) and offer more value-adding products and services e.g., customized mandate solutions, or exclusive deals
5. The Swiss financial center is seen as a clear winner in the recent market shake-up – yet, there is still a need for more transparent and effective regulation, better access to talent and closer collaboration across the broader ecosystem.
For this report, we have surveyed more than 35 banks as well as professional and institutional investors across the Swiss and Liechtenstein financial services sector (incl. family offices, pension funds, asset managers).
Jonas Heydasch co-authored this report.