Financial services giant Fidelity has found more institutions are invested in crypto than a year ago despite the market downturn.

Fidelity found 58% of surveyed investors reported owning digital assets in the first half of 2022, represented a six-percentage-point increase year-over-year, according to Fidelity Digital Assets’ fourth annual Institutional Investor Digital Assets Study published Thursday.

Digital asset ownership was highest in Asia, with 69% of institutions in the region reporting investments in the segment. That number was lower in Europe (69%) and the US (42%), though the figures represented an 11-point and nine-point rise, respectively, from a year ago.

Overall, global digital asset usage is highest among venture capital funds (87%), followed by high-net-worth individuals (82%) and advisors (73%).