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Wall Street Bulls Anticipate Rally as Bitcoin and Ethereum Purchases Surge, Reveals CoinShares Survey

2024/02/03 00:32

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After Bitcoin experienced a dip to $42,500 post the release of higher-than-expected US Non-Farm Employment Data, CoinShares has unveiled insights from its recent digital asset fund manager survey, suggesting growing interest and purchases of Bitcoin and Ethereum among Wall Street participants.

In our latest digital asset fund manager survey:

- 75% of all respondents believe Bitcoin and Ethereum have the most compelling growth outlook.

- Digital assets weighting in portfolios rose from 0.4% of the average respondent portfolio to 1.3%, indicating an increasing…
— James Butterfill (@jbutterfill) February 2, 2024

Key Findings from the CoinShares Survey:

Increased Interest and Purchases: The survey indicates heightened interest in digital assets, particularly Bitcoin (BTC) and Ethereum (ETH), reaching the highest levels of the year. The majority of Wall Street participants are actively buying these cryptocurrencies.
Bullish Sentiment: 75% of survey respondents express a belief in the upward trajectory of both Bitcoin and Ethereum.
Portfolio Allocation: The weight of digital assets in portfolios is on the rise, increasing from 0.4% to 1.3%. This marks the highest level since the first quarter of 2023, reflecting a growing allocation to digital assets.
Shift in Asset Allocation: Participants are reallocating funds out of traditional assets like stocks into alternative assets such as digital assets.
Bitcoin and Ethereum Dominance: In terms of current positions, Bitcoin and Ethereum make up 58% of participants' digital asset portfolios, up from the previous survey's 50%.
Solana's Position: While there is an improvement in the perceived growth outlook for Solana, it has not seen significant adoption into portfolios among investors.
Regulatory Concerns: Fears of government bans and regulations have decreased from 63% to 50%. However, regulatory concerns continue to be a prominent risk factor for participants.
Federal Reserve and Interest Rates: Participants are shifting away from a clear belief that the Federal Reserve is making a policy mistake, moving towards uncertainty about whether the Fed will cut interest rates.

The survey results highlight a positive sentiment towards digital assets, particularly Bitcoin and Ethereum, among Wall Street participants. The increased portfolio allocation to these assets suggests a growing acceptance and integration of cryptocurrencies into traditional investment strategies.

Dapatkan pemahaman yang lebih luas tentang industri kripto melalui laporan informatif, dan terlibat dalam diskusi mendalam dengan penulis dan pembaca yang berpikiran sama. Anda dipersilakan untuk bergabung dengan kami di komunitas Coinlive kami yang sedang berkembang:https://t.me/CoinliveSG

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