Columbia Funding Administration Firm president and CEO Kim Lew thinks that cryptocurrencies are right here to remain. 

“I feel it’ll have profound results,” she stated in a latest interview, “There are lots of completely different avenues that it may go.”

Lew defined that folks may construct many new issues throughout the crypto ecosystem, comparable to stablecoins and nonfungible tokens. “I feel clearly it’s going to play some function. Not clear what function it could play,” she added.

Lew stated that it’s necessary for Columbia Funding Administration Firm, the agency accountable for managing Columbia College’s $11 billion endowment, to dabble wit crypto property a bit of, “simply in order that we guarantee that we comply with.”

She burdened that it’s necessary to make be certain that the corporate has relationships with people who find themselves growing experience in order that “we will leverage that experience to resolve which technique to go.”

Whereas crypto will not be an asset class that Columbia would make investments lots in at this level because of excessive volatility and the dangers concerned, Lew believes that cryptocurrency is among the roads open for exploration for long-term traders.

Associated: Crypto and blockchain investments have already doubled 2020’s

After working for 13 years on the Ford Basis in govt roles, Lew was employed by Columbia College final 12 months to supervise the endowment of one of many wealthiest faculties in the US.

She is certainly not alone in dabbling crypto, a latest Constancy survey carried out with the participation of 1,100 institutional traders reveals. The analysis revealed that just about 70% of members, together with high-net-worth traders, household workplaces, digital and conventional hedge funds, monetary advisors and endowments, anticipate to invest in digital assets within the next five years.