{"id":512427,"date":"2024-04-26T08:50:56","date_gmt":"2024-04-26T08:50:56","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=512427"},"modified":"2024-04-26T08:50:56","modified_gmt":"2024-04-26T08:50:56","slug":"solana-sees-dramatic-increase-in-institutional-investment-as-altcoin-exposure-grows-coinshares-says","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/solana-sees-dramatic-increase-in-institutional-investment-as-altcoin-exposure-grows-coinshares-says","title":{"rendered":"Solana Sees \u201cDramatic Increase\u201d In Institutional Investment As Altcoin Exposure Grows, CoinShares Says"},"content":{"rendered":"

Solana (SOL) is witnessing a “dramatic increase in allocations” from wealth managers and hedge funds, who are also broadening their exposure to altcoins, Coinshares said.<\/span><\/p>\n

“Investors are more optimistic for <\/span>Solana<\/span><\/a>,” CoinShares’ head of research James Butterfill wrote in an Apr. 24 <\/span>report<\/span><\/a>. The findings were based on a survey of 64 investors, with a collective $600 billion in assets under management.<\/span><\/p>\n

\"Will<\/p>\n

Investors Favor Solana Over Ethereum<\/span><\/h2>\n

Market leaders Ethereum (ETH) and Bitcoin (BTC) are still the favorites, the survey showed. Following the approval of spot Bitcoin ETFs (exchange-traded funds) in the U.S., 41% of the investors who took part believe that BTC has the “most compelling growth outlook.”<\/span><\/p>\n

Ethereum took the second spot, but “investor appetite has waned since January,” Butterfill said. <\/span><\/p>\n

Investors have a more positive outlook for Ethereum’s competitor, Solana, he added.<\/span><\/p>\n

Nearly 15% of the surveyed investors revealed that they invested in SOL. This was a significant increase since CoinShares’ January survey, which showed that none of the respondents had exposure in the altcoin.<\/span><\/p>\n

SOL was also ranked third in terms of the “most compelling growth outlook,” which was also an increase from the 10% vote it received in CoinShares’ previous survey.<\/span><\/p>\n

\n

According to a report from CoinShares, Institutional investors appear to be “broadening their exposure to altcoins” including Solana, which has seen a “dramatic increase in allocations” from wealth managers and hedge funds.<\/p>\n

— LondonCryptoClub (@LDNCryptoClub) April 26, 2024<\/a><\/p><\/blockquote>\n