Crypto winter's not that cold: Coinbase survey shows 62% of investors increased allocations over 12 months

Quick Take

  • Looking ahead, 58% of investors in the survey expect to increase allocations over the next three years.

A Coinbase survey found that crypto winter may not be as cold as expected.

The 2022 Digital Assets Outlook Survey shows that 62% of investors who are currently invested in crypto increased their allocations in the past 12 months compared to 12% who decreased allocations.

"This is evidence that institutional investors have continued to take a long-term view of the asset class even as prices have fallen," the exchange said. "Looking ahead, 58% of investors expect to increase their allocations over the next three years."

About 59% of investors are currently using or planning to use a buy-and-hold approach, according to the poll.

The survey interviewed 140 institutional investors to get a read on current sentiment and outlook toward digital assets since the start of the current crypto winter.

To be sure, the survey was conducted prior to the meltdown of Sam Bankman-Fried's FTX and Alameda. The firms—which jointly filed for bankruptcy protection—have sent a ripple effect across the entire market, spurring further fears of contagion. 


Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

Despite a broad belief in the promise of crypto, only 7.9% of institutional investors surveyed by Coinbase expect crypto prices will trend higher in the next 12 months. The price of bitcoin has fallen more than 50% since the beginning of the yeat at around $16,000, The Block's Data Dashboard shows. 

Further, the survey participants valued regulatory compliance above all else when selecting a crypto partner, followed by security and trust. Following FTX’s implosion, centralized exchanges scrambled to offer a snapshot of their reserves in an attempt to show transparency.

Crypto markets still have not recovered from the downturn spurred by the collapse of the Terra ecosystem, which depressed not only cryptocurrencies but NFT prices as well. Even stocks for crypto firms such as Coinbase and Block have also fallen due to market conditions.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Authors

Christiana is a long-time journalist who has written about markets in the Americas, politicians who stashed cash in their underwear and high-end heels, to name just a few. She previously spent six years at Bloomberg, and her work has appeared in the WSJ, LA Times, Insider, Vogue Business and more. Christiana has a bachelor's degree in English from Pace University and a master's degree in journalism from New York University. She completed a master's degree in media psychology for fun.
MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.
Frank Chaparro is the Editor At Large at The Block. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. He runs his own podcast The Scoop and writes a biweekly eponymous newsletter. He leads special projects, including The Block's flagship podcast, The Scoop. Prior to The Block, he held roles at Business Insider, NPR, and Nasdaq. For inquiries or tips, email [email protected].


To contact the editors of this story:
Larry DiTore at
[email protected]
Nathan Crooks at
[email protected]