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.”
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.”
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.”
At the time of writing, Ethereum is trading at $1,595.
Don’t Miss a Thing – Subscribe to Receive Crypto Email Alerts Directly in Your Inbox
Check the special price
Follow us on TwitterFacebook and Telegram
Surf the daily hodl mix
Disclaimer: The opinions expressed in The Daily Hoddle are not investment advice. Investors should do their due diligence before making any high-risk investment in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Image generated: Midjourney