According to the latest report released by Global Custodian, it cooperated with The TRADE Crypto and BitGo in the fourth quarter of 2018 on 150 endowment funds. More than 94% of the endowment funds responded that they had invested in encryption related in the past 12 months. Of the projects, more than half (54%) of the respondents indicated that they were directly investing in specific cryptographic assets, while 46% of respondents were implemented through various funds. Respondents acknowledged that there are still many factors that concern them when it comes to digital asset classes, but only 7% of respondents plan to reduce their investment allocation in the next 12 months. Jonathan Watkins, executive editor of Global Custodian and The TRADE, said: "Despite the widespread concern about regulation, custody and liquidity, endowment funds have been incorporating encryption-related investments into their allocations, and few funds have shown their intention to exit in the past. In 18 months, people have been talking about when institutional investors began to participate in cryptocurrency investments, but it turns out that they have been involved in the form of endowments."