Institutional Investors and Cryptocurrency

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Currencies".

Deadline for manuscript submissions: closed (30 June 2025) | Viewed by 6708

Special Issue Editor


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Guest Editor
Department of Finance and Law, School of Business, New Britain, CT 06050, USA
Interests: corporate finance; corporate governance; international finance; fintech; cryptocurrency

Special Issue Information

Dear Colleagues,

In this Special Issue, we aim to investigate the role of institutional investors in shaping Crypto's future. We would like to receive the manuscripts within the following scopes: market maturation and liquidity, mainstream acceptance and adoption, risk management and diversification, regulatory compliance and oversight, institutional infrastructure and services, long-term investment thesis, market stabilization, and maturity.

Dr. Hamid Sakaki
Guest Editor

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Keywords

  • institutional investors
  • cryptocurrency
  • finance

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Published Papers (1 paper)

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Research

21 pages, 1369 KB  
Article
Economic Risk and Cryptocurrency: What Drives Global Digital Asset Adoption?
by Vyacheslav Stupak
J. Risk Financial Manag. 2025, 18(8), 453; https://doi.org/10.3390/jrfm18080453 - 14 Aug 2025
Cited by 1 | Viewed by 6094
Abstract
Cryptocurrency is often viewed as a hedge against economic instability, yet the extent to which economic risk drives digital asset adoption remains unclear. This study asks to what extent does economic risk shape global cryptocurrency adoption? To address this question, the research investigates [...] Read more.
Cryptocurrency is often viewed as a hedge against economic instability, yet the extent to which economic risk drives digital asset adoption remains unclear. This study asks to what extent does economic risk shape global cryptocurrency adoption? To address this question, the research investigates how variables such as inflation, corruption, unemployment, and exchange rate volatility influence adoption patterns. Using panel data from 41 countries between 2019 and 2024, the study employs country fixed-effects regression models and Principal Component Analysis. A novel Regulatory Permissiveness Index is introduced to evaluate the role of national regulatory environments. The findings show that cryptocurrency adoption is primarily associated with structural enablers such as GDP per capita, internet penetration, and regulatory clarity. Among the economic risk indicators, higher corruption and lower unemployment significantly predict adoption. Other economic factors, such as inflation and exchange rate volatility, are not consistently significant. The results suggest that economic development and digital infrastructure, rather than reactive responses to economic crises, are the main drivers of cryptocurrency adoption. Nonetheless, the significance of corruption highlights the role of institutional dissatisfaction in adoption behaviour, even in economically stable settings. Full article
(This article belongs to the Special Issue Institutional Investors and Cryptocurrency)
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