Institutional investors are cautiously managing their crypto assets, allocating 45% to
stablecoins, 35% to Bitcoin, and 15% to Ether, according to the latest
report by Bybit. Interestingly, the client segment nearly doubled their Bitcoin holdings
within the first three quarters of 2023.
Bitcoin’s dominance surged amid the crypto rally in
October, fueled in part by institutional traders nearly doubling their Bitcoin
holdings. Conversely, Ether experienced declining interest from institutional
investors throughout 2023.
The anticipation of BlackRock’s spot Ether ETF
application could reignite excitement, while Solana’s remarkable tenfold growth
since its low prices in 2022 poses a competitive challenge for Ether. A significant upgrade
could potentially rekindle institutional interest in Ether, Bybit noted.
Retail traders have adopted a cautious approach to
crypto by holding more stablecoins, reflecting a conservative stance towards
riskier assets. Notably, altcoins form a minor part of both retail and VIP
traders’ portfolios, hinting at a cautious outlook influenced by the recent
market turbulence.
Bybit’s journey of growth extends beyond user
numbers. The platform has acquired licenses in prominent regions like the UAE,
Kazakhstan, and Cyprus to boost its risk management
