According to a Basel Committee report, the world’s 19 largest financial institutions own €9.4 billion in cryptocurrency.
According to the latest report from the Basel Committee, worldwide bank exposure to crypto is estimated to be 0.01%, with the 19 largest financial institutions holding €9.4 billion in crypto, equating to 0.14% exposure.
The data for the research came from 16 Group 1 banks and three Group 2 banks. Ten of these banks were from the Americas, seven from Europe, and two from the rest of the globe.
Given the scale and degree of development of major financial institutions, the paper forecasts that worldwide crypto exposure would be roughly 0.01% when Group 3 banks are included.
According to the report:
“As the cryptoasset market is fast evolving, it is difficult to ascertain whether some banks have under- or over-reported their exposures to cryptoassets, and the extent to which they have consistently applied the same approach to classifying any exposures.”
The ten Americas banks’ cryptoassets account for around one-third of the entire €9.4 billion. The distribution of these banks is also uneven.
Two institutions account for more than half of global crypto exposure, while four institutions for around 40%. The remaining 10% is distributed across 13 banks.
According to the statistics, the most commonly held assets are Bitcoin (BTC) and Ethereum (ETH). Bitcoin has a 31% exposure among the 19 institutions, whereas Ethereum has a 22% exposure. Tokens using Bitcoin or Ethereum as underlying assets are the third and fourth most held assets, respectively. Tokens based on Bitcoin account for 25% of the total, while tokens based on Ethereum account for 10%.
The remaining 10% is distributed to other currencies. Ripple (XRP) is the third most exposed currency with 2%, followed by Cardano (ADA) and Solana (SOL) with 1% each. With 0.4% apiece, Litecoin (LTC) and Stellar (XLM) rank sixth and seventh.
Banks have reportedly acknowledged holding lesser quantities of USD Coin (USDC), which are not included in the above charts.
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