The majority (51 per cent) of Canadian investors now consider cryptocurrency investments to be untrustworthy, according to a new survey by Bitstamp, a cryptocurrency exchange based in Luxembourg.

The survey, which polled 1,000 retail and 2,000 institutional investors in 23 countries, found global institutional investor trust in crypto assets dropped slightly, from 70 per cent in the first quarter of 2022 to 67 per cent in the second quarter.

Read: Canadian institutional investors increasing exposure to crypto assets: survey

Despite this trend, institutional investors are becoming better informed about crypto assets. The survey found nearly two-thirds (61 per cent) of institutional respondents considered themselves to be very knowledgeable about the asset class, up from 49 per cent in the previous quarter.

It also found Canada was the only country in North America where the majority of institutional investors didn’t find cryptocurrencies to be trustworthy. In Mexico, 78 per cent of respondents said they trust crypto assets, while 69 per cent said the same in the U.S.

Read: Back to basics on cryptocurrency