Columbia Investment Direction Company president and CEO Kim Lew thinks that cryptocurrencies are here to stay.

"I recall information technology volition have profound furnishings," she said in a recent interview, calculation, "There are many dissimilar avenues that it can go."

Lew explained that people could build many new things within the crypto ecosystem, such as stablecoins and nonfungible tokens. "I think clearly it's going to play some function. Not clear what function it would play," she added.

Lew said that it's important for Columbia Investment Management Company, the firm responsible for managing Columbia University's $xi-billion endowment, to dabble in crypto assets a little "just then that we brand sure that nosotros follow."

She stressed that information technology's of import to ensure that the company has a relationship with people who are developing expertise so that "we tin can leverage that expertise to decide which mode to go."

While crypto is not an asset grade that Columbia would invest a lot in at this point due to high volatility and the risks involved, Lew believes that cryptocurrency is one of the roads open for exploration for long-term investors.

Related: Crypto and blockchain investments accept already doubled 2022's

After working for 13 years at the Ford Foundation in executive roles, Lew was hired by Columbia University terminal year to oversee the endowment of 1 of the wealthiest colleges in the United States.

She is definitely not alone in her interest in crypto as a recent Fidelity survey conducted with the participation of one,100 institutional investors reveals. The enquiry shows that almost 70% of participants — including high-net-worth investors, family unit offices, digital and traditional hedge funds, financial advisors and endowments — expect to invest in digital avails inside the next five years.