Kim Lu, President and CEO of Columbia Investment Management Corporation think Cryptocurrency will continue to exist.
“I think it will have a profound impact,” she said in a recent interview, “it can take many different ways.”
Lew explained that people can build many new things in the crypto ecosystem, such as stable coins and non-fungible tokens. “I think obviously it will play some role. It is not clear what role it will play,” she added.
Lew said that it is important for Columbia Investment Management, which manages Columbia University’s $11 billion endowment fund, to get involved in crypto assets, “just to make sure we follow.”
She emphasized that it is important to ensure that the company builds relationships with people who are developing expertise so that “we can use this expertise to decide which way to go.”
Although due to high volatility and the risks involved, cryptocurrency is not an asset class that Colombia currently invests heavily in, Lew believes that cryptocurrency is one of the paths that long-term investors can explore.
After 13 years in an executive role at the Ford Foundation, Lu was hired by Columbia University last year to oversee the endowment fund of one of the wealthiest universities in the United States.
As a recent Fidelity survey conducted with the participation of 1,100 institutional investors showed, she is definitely not the only one interested in crypto.Research shows that nearly 70% of participants — including high-net-worth investors, family offices, digital and traditional hedge funds, financial advisors, and endowment funds — expect Invest in digital assets in the next five years.