As crypto-currency has been gained great attention in financial market, it becomes more popular among institutional investment managers’ portfolios. Thus this research makes a pioneering study to investigate the role of crypto-currencies in PE company portfolios and factors affecting the institutional investors’ investment intention in order to enhance the reliability of their investment products. Data were obtained from 253 multinational PE company investment managers who have bought and used crypto-currency. The findings suggest not only important roles or drivers but also the moderating roles of innovativeness on relationships between the investment intention and its antecedents. It suggests that price volatility doesn’t lower institutional investors’ confidence as long as the market can offer timely and accurate price change information to meet investors’ price consciousness. The result also identifies that crypto-currency with high familiarity and trust can be well-suited in institutional investors’ portfolios.

随着加密货币在金融市场受到高度关注，它在机构投资经理的投资组合中越来越受欢迎。因此，本研究开创性地研究了加密货币在私募股权公司投资组合中的作用以及影响机构投资者投资意向的因素，以提高其投资产品的可靠性。数据来自 253 位购买和使用过加密货币的跨国 PE 公司投资经理。研究结果不仅表明了重要的作用或驱动因素，而且表明了创新对投资意图与其前因之间关系的调节作用。这表明，只要市场能够提供及时准确的价格变化信息，满足投资者的价格意识，价格波动不会降低机构投资者的信心。结果还表明，具有高度熟悉度和信任度的加密货币非常适合机构投资者的投资组合。