Crypto NewsAnalysisInstitutional Investors Have Been Accumulating From This Altcoin Since September 2023!

Institutional Investors Have Been Accumulating From This Altcoin Since September 2023!

A recent report by Bybit stated that institutional investors are showing more interest in Ethereum.

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After the SEC approved spot Bitcoin ETFs, all eyes are on Ethereum ETF applications, while investors' interest in ETH continues to increase.

At this point, in a recent report published by Bybit, one of the leading cryptocurrency exchanges, it was stated that institutional investors are more interested in Ethereum.

“Institutional Investors Increased Ethereum Allocation!”

According to this report, institutional investors have become more interested in Ethereum in recent months and have started to hold more Ethereum than Bitcoin in their portfolios.

According to ByBit's latest report, the top reasons why institutional investors have turned to Ethereum lately include the upcoming Dencun upgrade and a possible spot ETH ETF approval from the SEC.

“Optimism among institutional investors towards Ethereum started in September 2023 and increased further in January 2024, gaining an important place in portfolios.

During this period, the share of Ethereum in institutional investors' portfolios reached approximately 40%.

During this period, institutional investors allocated approximately 40% of their portfolios to Bitcoin, 40% to Ethereum, 15% to stablecoins, and the remaining 5% to various altcoins. This shows that institutions have increased their investment focus on Bitcoin and Ethereum from 50% to 80%.

“However, from the perspective of retail investors, while Bitcoin ranks first in interest among retail investors, it has been observed that this investor group is more inclined towards altcoins than corporate ones.”

“The Transition from Bitcoin to Ethereum Accelerated During This Period!”

ByBit lastly stated that institutional investors started to reduce their Bitcoin assets in early December 2023, and that Bitcoin was testing an important resistance level of $ 40,000 during this period.

“The decline in Bitcoin assets held by institutional investors is associated with institutions switching from Bitcoin to Ethereum.

“However, uncertainty remains as to whether this transition is a short-term tactical adjustment or a medium-term strategic reallocation.”

*This is not investment advice.

Buradaki Yorumlardan Bildirim Al

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