A new survey has revealed that hedge funds could hold up to 7% of their assets in cryptocurrencies within the next five years.

A survey of 100 hedge fund chief financial officers globally has revealed that they are willing to hold over 7% of their assets in cryptocurrencies over the next five years. The hedge funds showed huge confidence in digital currencies despite the massive price decline in recent weeks.

According to the Financial Times, the survey carried out by fund administrator Intertrust showed that hedge fund executives expect to hold an average of 7.2% of their assets in cryptocurrencies by 2026. This would result in the cryptocurrency market gaining over $300 billion in the next five years.

Per the survey, 17% of the respondents expect to hold more than 10% of their total assets in cryptocurrencies such as Bitcoin. The investment would represent a huge market adoption by hedge funds.

Although the actual number of hedge funds with cryptocurrency exposure is currently unknown, several of them have shown interest in investing in Bitcoin and other cryptocurrencies. Some of the hedge funds have gone forward to invest in cryptocurrencies directly or gain exposure via derivative products such as Bitcoin futures and options.

The founders of some of the leading hedge funds have also taken an interest in cryptocurrencies. Alan Howard, the founder of Brevan Howard, has invested in numerous cryptocurrency projects, both on an individual level and via his hedge fund. Another major investor in cryptocurrencies is hedge fund manager Paul Tudor Jones. He has recently indicated the willingness to invest up to 5% of his portfolio in the leading cryptocurrency.

Several hedge funds both in the US and abroad are already making profits from their cryptocurrency investments.

This post was originally published on Coinlist.