Institutions Ignoring Altcoins, Betting on Bitcoin: Bybit Research

Institutional investors show little interest in Ether and altcoins, Bybit Research data reveals that 50% of their portfolio is allocated to Bitcoin. According to research by Bybit, institutional traders have expressed a significant bullish sentiment towards Bitcoin, mixed sentiments regarding Ether, and a general air of scepticism towards altcoins.

From December 2022 to September 2023, the study provides an insightful look into trading behaviours and asset allocation amidst significant market fluctuations. The study reveals a significant shift in the institutional traders’ approach to major cryptocurrencies. Bitcoin holdings among this group saw a substantial increase, doubling in the first three quarters of 2023.

September marked a turning point, with half of institutional traders’ portfolios allocated to Bitcoin. This aligns with the positive market sentiment towards the primary crypto, fueled by expectations of regulatory advancements and the potential approval of a Bitcoin ETF. Ether’s appeal has reduced post-Shapella in April, with a decreased holding percentage across most traders.

However, a surprising surge in Ether holdings by institutional traders was noted in September, suggesting a broader upbeat sentiment towards cryptocurrencies.

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