Institutional investors believe one crypto asset has the most compelling growth prospects in 2023: CoinShares

Digital asset manager CoinShares says most institutional investors believe one crypto asset has the biggest growth potential this year.

In the latest quarterly survey by digital asset fund manager, CoinShares he says there is a 20% increase in investor sentiment for smart contract platform Ethereum (ETH).

“Ethereum has seen a dramatic increase in investor sentiment, with a record 60% of respondents believing it has the most compelling growth prospects.”

Source: CoinShares/Twitter

Only about 30% of those surveyed said that Bitcoin (BTC) has the most compelling growth prospects.

The survey is based on 43 investor responses covering $390 billion in assets under management.

Sentiment behind Ethereum has jumped significantly since an October 2022 survey, when only 40% of respondents believed ETH had the most compelling growth prospects.

CoinShares he says Ethereum could be headed for a “comeback” this year after experiencing a $401 million outflow in 2022.

According to the survey, investors were mostly investing in Bitcoin and Ethereum in the last quarter, which may have “come at the expense of altcoin competitors to Ethereum.”

“Actions speak louder than words, so it’s worth noting what investments respondents made in the last quarter. Bitcoin and Ethereum have solidified their leading positions against other coins.”

Source: CoinShares/Twitter

Investors are also less worried about a total ban on cryptocurrencies than the last survey.

“Regulatory concerns are heightened, although few expect political blockers and government bans. This suggests that investors see regulation as a solution rather than an outright ban.”

Source: CoinShares/Twitter

At the time of writing, Ethereum is trading at $1,595.

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