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Bybit Research Shows Ether Overtook Bitcoin as Favorite Investment for Institutions

According to a recent report released by Bybit, institutional investors are favoring Ethereum (ETH) over Bitcoin (BTC) in their investment portfolios, in contrast to retail investors, who show more enthusiasm toward the latter digital currency. Bybit’s analysis, which polled traders who are active on the platform, revealed that institutions have boosted their allocation to Ether and Bitcoin, making up 80% of their portfolio. This shift is notably influenced by the awaited Dencun upgrade, particularly driving the significant bet on ETH.

Meanwhile, retail investors display a different pattern, demonstrating a lower concentration on Ether and Bitcoin while showing a stronger inclination toward alternative cryptocurrencies, or altcoins. Ether has surpassed Bitcoin with a 33% year-to-date rise, currently trading above $3,100. The surge is due to…

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