CoinShares, the UK-based digital asset fund manager, recently published the results of its bi-monthly fund manager survey. According to CoinShares’ survey, institutional crypto investors enhanced their investments in altcoins like Polkadot, XRP and Cardano at the expense of Ethereum (ETH).
Bitcoin has remained the preferred crypto-asset among institutional investors despite a massive price correction. Compared to 36% in the previous survey, 39% of respondents now say that BTC has the ‘most compelling’ growth outlook.
In terms of price, BTC, ETH and XRP have lost more than 40% of their value since the start of 2022. In the past 24 hours, the crypto assets have made a comeback as XRP has climbed by 4%. Also, ETH has jumped by approximately 3%.
“The recent collapse of stable coin UST has seen investors favoring Bitcoin where 39% of respondents now say it has the most compelling growth outlook. Investors have increased weighting on digital assets from 0.5% to 1% as they look to add to positions during the price weakness. However, the weighting remains well below the 1.8% seen in November 2021. The survey highlights increasing allocation to DOT, ADA and XRP at the expense of Ethereum,” the report highlighted.
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