CoinShares Report Reveals: Institutional Investors Boost Allocations, Leading to Solana’s Growing Attraction

According to a recent survey, Solana has experienced a significant increase in adoption. While Bitcoin remains the most popular cryptocurrency among investors, the CoinShares report highlights the growing appeal of the Solana blockchain. The survey, which involved 64 investors managing a total of $600 billion in assets, reveals that nearly 15% of the respondents have invested in SOL, marking a substantial rise from previous surveys where no investments in Solana were reported. This growing interest in Solana is attributed to recent technological advancements and the altcoin’s increasing market presence. In contrast, XRP, the cryptocurrency associated with Ripple Labs Inc, saw a decline in interest among investors. Despite this, Bitcoin remains the favored cryptocurrency for growth, with 41% of respondents expressing bullish sentiments. Ethereum follows closely as the runner-up, with just over 30% of investors optimistic about its growth prospects. The survey also shows an overall increase in the percentage of cryptocurrency held in investors’ portfolios, reaching 3% compared to 1.3% in January. This increase is largely driven by allocations from institutional investors who now have the opportunity to gain exposure to Bitcoin through spot Bitcoin Exchange-Traded Funds (ETFs) in the US. However, regulatory constraints and corporate restrictions continue to be barriers to entry into the crypto market. Despite these challenges, the percentage of investors who view digital assets as “good value” has increased, driven by increasing client demand and positive price momentum. As of the latest market data, SOL is trading at $142.9, with a slight decline of 0.3% in the past 24 hours. The trading volume has also decreased by 24% to $3 billion, with a market capitalization of $63 billion.