Bybit Research: Institutions are allocating a large portion of their portfolios to Ethereum

Institutions are allocating a large portion of their portfolios to Ethereum, with Bitcoin not far behind, in contrast to retail investors who are more bullish on the latter, according to a new report from Bybit Research. Bybit, which surveyed traders with assets on the exchange, reported that institutions have increased their portfolio concentration in Bitcoin and Ethereum to 80% in anticipation of the Dencun upgrade, with investments in Ethereum increasing significantly. At the same time, retail investors are less concentrated in these assets and are more inclined toward altcoins, the report added. The report also noted that despite high returns in 2023, institutions have significantly reduced their altcoin positions, especially in more volatile categories such as meme coins, AI and BRC-20 tokens; instead, institutions are focusing more on L1 Stable asset tokens and DeFi protocols. (CoinDesk)