New York – A recent survey of financial giant JPMorgan has revealed the current sentiments of institutional traders towards cryptocurrencies and emerging technologies. By taking into account the views of over 4,000 traders from around the world, the bank’s annual e-Trading survey in 2024 seeks to determine global trends and expectations to form a basis for the future of electronic trading.

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• JPMorgan’s 2024 e-Trading survey reveals 78% of institutional traders have no plans to trade cryptocurrencies within the next five years.
• Artificial intelligence and machine learning are anticipated by 61% of traders to be the most transformative technologies in trading for the near future.
• Despite a slight increase in crypto engagement, skepticism remains high, with major market influences for the year ahead being inflation, the U.S. election, and recession risks.

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JPMorgan Survey: Institutional Traders Largely Shun Crypto, Favor AI and Machine Learning

A resounding 78% of those surveyed expressed no plans to trade cryptocurrencies within the next five years, signaling a cautious or dismissive stance on digital assets. This is a strong sign of a negative attitude of the skeptical traders society which is the majority in this particular trading sphere of future markets. 

While the survey revealed a disappearing enthusiasm for cryptocurrencies, it also demonstrated faith in AI and machine learning is rising. A significant 61% of respondents anticipate these technologies will be the most influential in revolutionizing trading practices over the next three years—an increase from 53% in the prior survey.

Blockchain technology, once viewed as a pivotal innovation, has seen its expectations tempered among traders. Only 7% consider it a transformative force for the near future, a reduction from 25% two years prior, suggesting a recalibration of its perceived impact on the sector.

The survey also noted a minor lift in the number of traders engaging with cryptocurrency, moving from 8% in 2023 to 9% at present. An additional 12% are considering the possibility of trading digital currencies within the next five years, potentially buoyed by the industry’s recovery efforts and the approval of landmark spot bitcoin exchange-traded funds (ETFs) in the United States.

Despite the positive market movements, including a 95% increase in bitcoin’s price over the last year, JPMorgan’s CEO Jamie Dimon remains a vocal critic of cryptocurrency. His skepticism is mirrored in the caution exhibited by the survey’s participants.

Traders also pinpointed inflation, the upcoming U.S. election, and recession concerns as the trio of challenges most likely to drive market trends in the coming year.

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