The global cryptocurrency is still in its nascent stage, as opposed to the notion that cryptocurrency is growing rapidly with each passing day. The recent Bank of America survey has shed light on recent trends in crypto adoption, noting how 84% of global fund managers are yet to explore the domain, with average allocation sitting at a modest 0.8%.

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Crypto Still a Ghost Town: BoA

CBDCs and Stablecoins Are the Natural Evolution of Money and Payments, Says Bank of America
Source: American Banker

A recent survey conducted by the Bank of America is showing some new reality checks in the cryptocurrency domain. The new survey shared details on how global investors at large are still not exploring crypto, with allocations standing at zero.

The survey later shared additional insights, adding that 67% of fund managers have zero allocation to digital assets. This development emphasizes the fact that crypto adoption is still nascent, contrary to the current ideas and crypto market assumptions.

Moreover, nearly 3% of respondents agreed to have explored crypto, with 3% to 4% and another 1% agreeing to having exposure to digital assets or more by 8%.

“MOST INVESTORS HAVE ZERO ALLOCATION TO CRYPTO: BANK OF AMERICA Bank of America’s September survey shows 67% of fund managers hold no crypto. Only small fractions allocate 2% (3%), 4% (3%), or 8%+ (1%). The average allocation is just 0.4%. Overall, 84% haven’t started structural crypto investments, while only 8% have.”

Global Reluctant Stance

The BoA survey further revealed a staggering narrative, adding how 84% of global institutional fund managers have not yet touched crypto. 84% of these respondents claim that they have not touched cryptocurrency, showcasing a stark gap between its real adoption practices and assumed notions.

While others have been viewing this narrative with a hint of failure and shock, the crypto enthusiasts have been showing relentless support, stating how it’s still early for investors to bank on “the Bitcoin movement” that one day is bound to explode.

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