Asset Managers Believe BTC Has More Upside, ETH Continues to be Biggest Holding
Asset Managers Believe BTC Has More Upside
In spite of this, Ethereum (ETH) still occupies the greatest allocation in their portfolios. 43% of the 51 investors who took part said that Bitcoin had a higher upside potential than Ether.
Family offices, institutions and wealth managers, however, are feeling the effects of the US Securities and Exchange Commission’s tough attitude against the still-emerging sector as they grow increasingly concerned that stricter regulation, and perhaps an outright ban, could pose significant risks to crypto’s future.
According to CoinShares data, the weighting provided to digital assets inside portfolios has significantly decreased, falling from 1.8% in April to 0.7% by the end of June.
BlackRock, which submitted a proposal to start an exchange-traded fund for spot Bitcoin back in June, may have been the trigger that calmed investors’ fears. With 10% of asset managers investing in cryptocurrencies with smaller market capitalization, there are signs that they may be willing to reenter the highly volatile realm of altcoins.