According to the digital asset exchange Bybit’s latest user asset allocation report, between July 2023 to Jan 2024, the share or concentration of bitcoin (BTC) and ether (ETH) in institutions’ digital asset portfolios grew from 50% to 80%. The data indicates that each of these cryptocurrencies accounts for half of this latest allocation figure, with stablecoins and altcoins making up the remaining 20%, at 15% and 5% respectively.
While the increased concentration of BTC and ETH in institutional portfolios could be interpreted as a bullish sentiment toward these leading crypto assets, the crypto exchange platform’s 2024 report suggests the pendulum is shifting from bitcoin to ether.
