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The top banks in the world hold crypto assets<\/a> worth around $9 billion, according <\/a>to a Basel Committee report.<\/p>\n Nineteen of the largest financial institutions in the world were a part of the study. Seven of the banks were from Europe, 10\u00a0were from the Americas and\u00a0two were from the rest of the world.<\/p>\n The 19 banks that put in their data have a 0.14% exposure to cryptocurrency.<\/a>\u00a0If worldwide standards were to be applied, the exposure of banks stands at a measly 0.01%.<\/p>\n However, the research did point out that \u201cas the crypto market is fast evolving, it is difficult to ascertain whether some banks have under- or over-reported their exposures.\u201d<\/p>\n The Basel Committee found that Bitcoin <\/strong>BTC\/USD<\/span> and Ethereum <\/strong>ETH\/USD<\/span>, or assets based on these two currencies, account for the bulk of exposure.<\/p>\n Ethereum<\/a> represented 22% of the total exposure, while Bitcoin represented 31%.<\/p>\n Other assets based on Bitcoin and Ethereum account for 25% and 10% exposure, respectively.<\/p>\n Exposure to other cryptos include Litecoin <\/strong>LTC\/USD<\/span>, 0.4%;\u00a0Stellar<\/strong>\u00a0XLM\/USD<\/span>, 0.4%;\u00a0Cardano<\/strong> ADA\/USD<\/span>, 1%;\u00a0Polkadot<\/strong>\u00a0DOT\/USD<\/span>, 2%\u00a0and Ripple <\/strong>XRP\/USD<\/span>, 2%.<\/p>\n The banks also disclosed a small quantity of tokenized assets and stablecoins, such as USD Coin.<\/p>\n The data is heavily influenced by the services that banks provide, such as market making, clearing\u00a0and custody.<\/p>\n The study showed a\u00a0small number of institutions owned the majority of the assets, and as a result, warned\u00a0the conclusions could not reflect reality very accurately.<\/p>\n While it seems major financial institutions have invested a bare minimum in cryptocurrencies<\/a>, digital assets are in their nascent phase, with the world\u2019s largest digital currency Bitcoin debuting just over a decade ago.<\/p>\n With a seemingly long road ahead, institutions have plenty of time to\u00a0own a sizeable chunk of cryptocurrencies.<\/p>\n Furthermore, major banks considering investments in cryptocurrencies\u00a0make the industry look promising.<\/p>\n Currently, the market capitalization of all cryptocurrencies is $980 billion, down 0.3% from the previous day.<\/p>\n Photo:\u00a0Andrew Derr<\/a>\u00a0via Shutterstock<\/em><\/p>\n<\/div>\nBulk of Investments In Bitcoin, Ethereum<\/h3>\n
How Far Are Financial Behemoths From Cryptos?<\/h3>\n