Source: Cointelegraph Original: "{title}"
According to a report released on March 18 by Coinbase and EY-Parthenon, institutional investors are becoming increasingly optimistic about cryptocurrencies, with 83% of institutional investors indicating that they plan to increase their allocation to cryptocurrencies by 2025.
The report states that nearly three-quarters of the surveyed companies hold cryptocurrencies other than Bitcoin (BTC) and Ether (ETH), and "the vast majority" plan to raise their cryptocurrency investment allocation to 5% or more of their portfolios.
The report notes that their motivation stems from the belief that "cryptocurrencies represent the best opportunity to achieve attractive risk-adjusted returns over the next three years."
The findings are based on interviews conducted in January with over 350 institutional investors by the largest cryptocurrency exchange in the U.S., Coinbase, and consulting firm EY-Parthenon.
The survey found that among the altcoins held by institutions, Ripple (XRP) and Solana (SOL) are the most popular.
Coinbase and EY-Parthenon surveyed over 350 financial institutions on cryptocurrency issues. Source: Coinbase
Altcoin ETFs on the Horizon
If U.S. regulators approve the proposed exchange-traded funds (ETFs) this year, institutional holdings of altcoins may further increase.
Asset management firms are awaiting approval from the U.S. Securities and Exchange Commission to list more than a dozen proposed altcoin ETFs.
According to Bloomberg Intelligence, Litecoin (LTC), Solana, and Ripple are considered the most likely to receive approval in the short term.
On March 17, the Chicago Mercantile Exchange (CME), the largest derivatives exchange in the U.S., launched futures contracts linked to Solana, marking a significant step in institutional adoption of this altcoin.
Rise of Stablecoins and DeFi
Meanwhile, the survey found that stablecoins continue to be favored by institutions, with 84% of respondents either already holding stablecoins or considering doing so.
The report states that institutions use stablecoins for a wide range of purposes, not just for facilitating cryptocurrency trading, including earning yield (73%), foreign exchange trading (69%), internal cash management (68%), and external payments (63%).
In December of last year, investment bank Citigroup stated that the adoption of stablecoins would accelerate on-chain activities, including those in the DeFi space.
The survey found that currently only 24% of institutional investors are using DeFi platforms, but this number is expected to grow to nearly 75% within the next two years.
The report states: "There are many reasons for institutional interest in DeFi, with derivatives, staking, and lending being the most interesting applications, followed closely by acquiring altcoins, cross-border settlements, and liquidity mining."
Related: U.S. Senate Banking Committee Advances the GENIUS Stablecoin Act
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