Featured image from Cointribune, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Reports have revealed that institutional investors are shifting their focus to Ethereum, displaying a preference compared to the largest cryptocurrency, Bitcoin. Despite Bitcoin\u2019s recent rally to over $55,000, Ethereum\u2019s unique features and potential developmental capabilities continue to capture institutional players\u2019 interest.\u00a0 Institutions Favor Ethereum Over Bitcoin On February 24, cryptocurrency exchange, Bybit, published a research report on its users\u2019 asset allocation. The research examined investors\u2019 hodling and trading behaviours, covering the period from July 2023 to January 2024. Bybit\u2019s report also provided valuable insights into investors\u2019 asset allocation across cryptocurrencies such as altcoins, stablecoins and meme coins, shedding light on the specific coins users are currently bullish or bearish on.\u00a0\u00a0 Related Reading: VeChain Ready For Blast-Off: Crypto Analyst Predicts VET Price To Rally 14,600% According to the research report, Ethereum has unexpectedly emerged as the primary cryptocurrency choice for institutional investors. The report revealed that \u201cinstitutions are betting big on Ethereum,\u201d allocating more of their funds to ETH compared to BTC.\u00a0 Bybit has disclosed that the recent rise in interest in Ethereum began in September 2023, when ETH was still trading around $2,000. Subsequently, Ethereum\u2019s market sentiment became more bullish, experiencing a surge in investor interest to about 40% by January 2024. The crypto exchange has confirmed that, as of January 31, ETH has become the single largest cryptocurrency held by institutions. Bybit\u2019s report also revealed that institutional investors\u2019 interest in Bitcoin began to wane following the United States Securities and Exchange Commission (SEC) approval of Spot Bitcoin ETFs on January 10, 2024. At the time, Bitcoin had experienced massive selling pressures, resulting in investors trimming their BTC holdings to favour other cryptocurrencies.\u00a0 The excessive allocation of Ethereum is reportedly attributed to investors anticipating a favourable outcome from Ethereum\u2019s upcoming Decun Upgrade, slated to launch in March 2024.\u00a0 Notably, Bybit has disclosed that it is still being determined if the recent shift to Ethereum is a short-term manoeuvre or a more prolonged move. However, the approaching Bitcoin halving in April potentially adds a layer of bearish risks, as projections indicate Bitcoin\u2019s significant rise in value to new all-time highs during the halving phase.\u00a0 ETH price rises to $3,230 | Source: ETHUSD on Tradingview.com Retail Investors Think Otherwise Bybit\u2019s research report also examines the asset allocation trend for retail investors on the cryptocurrency exchange. The report revealed that retail investors are significantly more bullish on Bitcoin than Ethereum, allocating more funds into BTC than ETH despite Ethereum\u2019s recent surge in value.\u00a0 Related Reading: Crypto Analyst Predicts Dogecoin Parabolic Breakout Above $3.5, Here\u2019s When Over the past week, Ethereum has experienced a substantial hike in its price, jumping over 7% and outpacing Bitcoin, suggesting a potential for a more extensive upward trajectory. At the time of writing, Ethereum is trading at $3,227, reflecting a 4.05% increase in the last 24 hours, according to CoinMarketCap.\u00a0 While Ethereum\u2019s massive rally has successfully elevated the sentiment among institutional investors, retail investors remain less swayed, opting to hold onto or incorporate additional Bitcoin into their diversified portfolio of digital assets.\u00a0 Featured image from Cointribune, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":577054,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,13625],"tags":[428,656,679,1119,89185,1122,1144,78790,8323,89213,16163,1946,7931,6931,8686,78803,14040],"class_list":["post-577046","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-ethereum","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-eth","tag-eth-news","tag-eth-price","tag-ethereum","tag-ethereum-news","tag-ethereum-price","tag-ethusd","tag-ethusdt","tag-institutional-investors"],"acf":[],"yoast_head":"\n
Ethereum Outperforms Bitcoin As Institutional Investors Clamor For ETH Exposure<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n