Institutional Investors Believe One Crypto Asset Has the Most Compelling Growth Outlook in 2023: CoinShares
Digital assets manager CoinShares says most institutional investors believe one crypto asset has the most growth potential this year.
In the latest Digital Asset Quarterly Fund Manager Survey, CoinShares says there is a 20% increase in bullish sentiment among investors for smart contract platform Ethereum (ETH).
“Ethereum has seen a dramatic rise in investor sentiment, with a record 60% of survey respondents believing it has the most compelling growth outlook.”
Just about 30% of those surveyed said Bitcoin (BTC) had the most compelling growth outlook.
The survey is based on 43 responses from investors who cover $390 billion of assets under management.
The sentiment behind Ethereum jumped significantly since the October 2022 survey, when only 40% of those surveyed believed ETH had the most compelling growth outlook.
CoinShares says Ethereum may be headed for a “comeback” this year after experiencing an outflow of $401 million in 2022.
Per 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.”
“Action speaks 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 concerned about an outright ban on crypto since the last survey.
“Regulatory concerns have increased, although far few expect political blockers and a government ban. This suggests investors see regulation being the solution rather than an outright ban.”
At time of writing, Ethereum is changing hands at $1,595.
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