[NEWS] Ethereum ranks first among crypto assets held by institutional investors in Bybit survey

It has been found that Ethereum (ETH), the leading altcoin, is the cryptocurrency most held by institutional investors. This was revealed in a report released by overseas cryptocurrency exchange Bybit on the 27th.

This report shows the percentage of cryptocurrency held by investors.

According to the survey, as of the end of January this year, 39.49% of Bitcoin (BTC) was held by institutional investors, while Ethereum was slightly higher at 39.82%.

Among cryptocurrencies held by individual investors, stablecoins were the most common at 36.61%. This category only covers two types of cryptocurrency: Tether (USDT) and USD Coin (USDC).

Furthermore, the next most commonly held cryptocurrency by individual investors was altcoins excluding Ethereum and stablecoins at 28.81%, followed by Bitcoin at 23.17%. Ethereum was only at 11.41%.

Expectations for major update and spot ETF

According to the report, the increase in Ethereum holdings by institutional investors is in anticipation of the major update Dencun, scheduled for implementation on the 13th of this month.

The realization of an Ethereum spot ETF in the United States, which is gaining in anticipation, also seems to be a factor.

Many analysts have pointed out that an Ethereum spot ETF may be approved within this year.

Reference: Report
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