While the rise in Bitcoin and altcoins excited investors, an important report came from Bybit analysts.
According to Coindesk, Bybit Research said in its recent report that institutional investors are torn between Bitcoin and Ethereum (ETH).
Stating that institutional investors are generally interested in cryptocurrencies, Bybit analysts pointed out that institutional investors are more positive about BTC than other cryptocurrencies.
According to the research, investors are more skeptical of Ethereum and other altcoins compared to BTC.
Because according to research data, institutional investors put 45% of their positions in stablecoins; 35% to Bitcoin; He stated that they allocated 15% to Ethereum and 5% to altcoins.
Analysts pointed out that the amount of BTC held by institutional investors experienced a sharp increase in September and said:
“Bitcoin held by institutional investors experienced a sharp rise in September. According to the research, especially in September, half of the asset portfolio of institutional investors was allocated to BTC.
This can be attributed to the positive market sentiment towards Bitcoin and the expectation that the SEC will potentially approve a spot BTC ETF.
Additionally, institutional investors, whales or large Bitcoin holders are skeptical of altcoins. According to the data, despite the short-term rise in May, there appears to be a general decline in altcoin assets among investors.
Institutional investors' ETH holdings fell overall after the Shapella upgrade.
However, institutional investors also saw an increase in ETH holdings in September amid positive market sentiment as ETF news excited markets.”
*This is not investment advice.