XRP Adoption Surge as 20% of Institutional Investors Embrace Token
XRP: A recent survey by global strategy consultancy EY-Parthenon has provided a rare glimpse into how institutional investors view cryptocurrencies, particularly XRP. The survey, which spanned 277 decision-makers from across the world, found that over 20% of respondents admitted to having XRP in their portfolios. The surveys insights were shared by XRP community figure WrathofKahneman (WOK) in a post on X today.
The survey respondents included COOs, CEOs, portfolio managers, and other key players representing wealth managers, family offices, hedge funds, and traditional asset managers. Notably, 147 respondents were from the U.S., while 90 hailed from Europe. Investors from Asia-Pacific, Canada, and Latin America made up the remaining cohort.
The survey was conducted in early March 2024, shortly after the SEC greenlit Bitcoin ETFs. It aimed to gauge institutional sentiment on crypto assets, with a focus on asset allocation, future outlooks, and tokenization. To ensure balanced responses, a third party facilitated the process.
One key finding was that 57% of respondents had diversified into altcoins beyond Bitcoin (BTC) and Ethereum (ETH), similar to last years figure of 60%. Family offices were even more inclined to explore alternatives, with 68% expressing interest in tokens like XRP.
BTC and ETH remain dominant, with 98% and 78% of respondents, respectively, confirming investments in these assets. Yet XRP has made strides, with 20% of participants acknowledging holdings in the coin. Solana (SOL) also garnered attention, securing investments from 24% of respondents.
XRP an Other Stablecoins Set New Trend
Another trend noted was a shift in the stablecoin market. Institutional preference for USDC grew, with its market share rising year-over-year, while Tether (USDT) saw its share drop from 42% in 2023 to 35% in 2024. PayPal USD, a newcomer, emerged as a top-three player in this space.
As for future plans, 42% of respondents intend to maintain their current crypto allocations, while another 42% plan to increase their holdings over the next three years. Only 16% reduced their allocations in 2023, reflecting steady confidence in digital assets despite ongoing market volatility.
Institutional appetite for altcoins like XRP shows no sign of fading, signaling broader adoption beyond the crypto giants.
Read more: https://www.tronweekly.com/xrp-surge-20-institutional-investors-embrace/
Text source: TronWeekly
