September 13, 2021 • 26 min read Introduction The Fidelity Crypto LCSM 2021 Institutional Investor Digital Assets Study tracked institutional investors' behavior in the face of an unprecedented health crisis and market turmoil, providing an exciting look at investors' preferences and perceptions of digital assets at a crucial inflection point for the industry. The results show that the market conditions of 2020 were a catalyst for many investors. Survey Shows, European Investors Continue to Have More Progressive View towards Digital Assets For 44% of investors surveyed, it increased their likelihood of investing in digital assets, and for 40%, it had no impact. For the second year in a row, the survey found that European investors have a more progressive view towards digital assets than Americans when comparing the responses across all categories. Even so, Asian investors, who we surveyed for the first time this past year, are by far the most accepting of digital assets, with more than 70% of investors surveyed currently invested in digital assets. The research survey for this study was led by Fidelity Consulting in coordination with Fidelity Crypto LCSM and The Fidelity Center for Applied TechnologySM. Conducted by Coalition Greenwich, the research followed a similar methodology to the previous two years, utilizing a detailed survey to better understand the overall attitudes and behaviors of institutional investors as it relates to digital assets. Field work was conducted between December 2, 2020, and April 2, 2021, with a total of 1,100 blind interviews of professionals from a variety of firms, completed via a mix of online surveys and 1:1 phone sessions. To learn more about how institutional investors are thinking about digital assets, download and read the full study. The information herein was prepared by Fidelity Digital Asset Services, LLC and is for informational purposes only and is not intended to constitute a recommendation, investment advice of any kind, or an offer to buy or sell securities or other assets. Please perform your own research and consult a qualified advisor to see if digital assets are an appropriate investment option. Digital assets are speculative and highly volatile, can become illiquid at any time, and are for investors with a high-risk tolerance. Investors in digital assets could lose the entire value of their investment. Fidelity Digital Asset Services, LLC does not provide tax, legal, investment, or accounting advice. This material is not intended to provide, and should not be relied on, for tax, legal, or accounting advice. Tax laws and regulations are complex and subject to change. You should consult your own tax, legal, and accounting advisors before engaging in any transaction. By using or logging into this website, you consent to the use of cookies as described in the Fidelity Crypto LC Privacy Policy. Fidelity Digital Asset Services, LLC does not provide tax, legal, investment, or accounting advice. This material is not intended to provide, and should not be relied on, for tax, legal, or accounting advice. Tax laws and regulations are complex and subject to change. You should consult your own tax, legal, and accounting advisors before engaging in any transaction. Trademarks and logos used within are the property of their respective owners. Services provided by Fidelity Digital Asset Services, LLC, a New York State-chartered, limited liability trust company (NMLS ID 1773897). Fidelity Crypto LC and the Fidelity Crypto LC logo are service marks of FMR LLC. © 2021 FMR LLC. All rights reserved. 995451.1.0