Crypto is the 'top contender' for 'major correction', money managers say

This year saw a number of big fund managers and pensions start to dabble in crypto, while numerous big-name investors famed for their financial markets acumen have also gotten involved

By many counts, 2021 was the year cryptocurrencies were finally embraced by institutions. Now those same money-managers say the asset class is ripe for a big selloff next year. 

Digital assets are the “top contender” for a “major correction” in 2022, with nearly three-quarters of institutions polled saying they’re not an appropriate investment for most retail investors, according to a survey done for Natixis Investment Managers. 

Meanwhile, 28% of all institutions surveyed currently invest in cryptocurrencies -- and of those, nearly a third said they plan to increase their crypto allocations next year. Overall, 8% of all institutional investors surveyed -- meaning