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A recent survey conducted by CoinShares revealed a significant shift in institutional investor preferences, with a significant increase in Solana (SOL) allocations. A survey of digital asset fund managers conducted among 64 investors with a total of $600 billion in assets under management highlights the growing interest in altcoins, especially Solana.
James Butterfill, Head of Research at CoinShares, highlighted the growing exposure to altcoins among investors, saying:
“Investors have been increasing their exposure to altcoins, and Solana has seen its allocations increase dramatically.”
The survey found that nearly 15% of participants are currently investing in SOL. This is a notable increase compared to previous surveys, including the January results, which showed no institutional investment in Solana.
Bitcoin and Ethereum continue to dominate the market, with more than 25% and less than 25% of respondents investing in these assets respectively, but investor sentiment appears to be changing.
Bitcoin remains the preferred asset, and 41% of investors are optimistic about its growth prospects, although this is a slight decrease compared to the previous survey. Ethereum, on the other hand, suffered a decline in investor confidence, with the number of respondents optimistic about the future dropping from 35% to around 30%.
Solana, by contrast, is gaining traction among investors, with about 14% of respondents saying they are optimistic about its growth prospects. This is an increase from approximately 12% in the previous survey. The growing interest in Solana coincides with its recent technological advancements and expanding presence in the market.
The survey also found that digital assets now account for 3% of the average investment portfolio, the highest level since the survey began in 2021. This increase is primarily due to the introduction of the US Spot Bitcoin ETF, which facilitated direct exposure to Bitcoin. Institutional investors.
Despite the positive influx of institutional capital into cryptocurrencies like Solana, the report highlights significant barriers preventing widespread adoption. Regulation remains a major concern, with many investors citing it as a major obstacle to further investment in the asset class. Butterfill noted:
“While regulation remains a high barrier, it is encouraging to see that concerns about volatility and storage continue to decline.”
Additionally, the survey found that while investor interest in distributed ledger technology remains high, the perception of cryptocurrencies as good value investments has increased significantly. From January to April, the percentage of investors viewing digital assets as ‘good value’ surged from less than 15% to more than 20%, driven by increased customer demand and positive price momentum.
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