A new survey conducted by banking giant JPMorgan finds that institutional traders believe cryptocurrency and blockchain technologies will become more mainstream in 2023.

JPMorgan’s new “The e-Trading Edit: Insights from the Inside” survey reports that all institutional traders surveyed said they will increase electronic trading activity this year.

“‘Crypto / Digital Coins’, ‘Commodities’ and ‘Credit’ are predicted to have the biggest increases in electronic trading volumes over the next year, followed by ‘FX’.

100% of responding traders predicted they will increase electronic trading activity.”

However, when institutional traders were asked about their plans for trading crypto specifically this year, they responded less enthusiastically.

“72% of traders surveyed ‘have no plans to trade crypto / digital coins’, with 14% predicting they plan to trade within 5 years.”

Institutional traders appear to be more bullish on artificial intelligence (AI) technology than blockchain technology, according to the survey’s findings. When asked about which technology they thought would be the most influential on trading over the next three years, those surveyed responded:

“53% of traders predicted ‘Artificial Intelligence/ Machine Learning’ technology to be the most influential in shaping the future of trading over the next 3 years, with ‘API Integration’ and ‘Blockchain/ Distributed Ledger Technology’ following.”

According to Scott Wacker, JPMorgan Global Head of FICC e-Sales,

“We continue to see strong momentum towards electronic trading, as seen by 100% of survey respondents predicting an increase in electronic trading over the coming years. We’re seeing a lot of new entrants in the fixed-income market which is really pushing the electronic agenda for the whole industry. It’s an exciting time for the electronic and automation space right now, as we look to offer clients added choice of execution options.”

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