DUBAI, UAE, June 21, 2024 /PRNewswire/ -- Bybit, one of the
world's top three crypto exchanges by volume, has released a new
study showing institutional investors have increased their ETH
holdings ahead of the launch of the spot ETH ETF in the US.
Analysts predict this ETF will capture between $8 and $12 billion
from US and global markets, driving Ethereum to new all-time highs
by year-end.
According to recent data, Bybit's institutional investors'
exposure to ETH has almost tripled since the ETF announcement on
May 24, 2024—moving from 6.54% to a
current weighting of 14.29%. This surge underscores the growing
confidence in Ethereum's future performance and the expected
positive impact of the ETF launch.
Retail investors on Bybit have also increased their ETH
allocations, although not as dramatically as institutional
investors. The allocation to ETH has risen from 7.40% to 9.52%,
reflecting a cautious but positive response to the ETF
announcement.
"Ethereum is the crypto product favored by traditional capital
such as BlackRock and Franklin
Templeton, both of whom have tokenized funds on the
platform," said Hao Yang, head of financial products at Bybit.
"Given this, the chain seems poised to become the institutional
pick. With its native yield, the ETH token allows for
composability, and we are seeing protocols building interesting
derivatives based on ETH's stable yield, leveraging this to create
crypto primitives that mimic those built on top of the US Treasury
market. Finally, because a portion of ETH is burned (sent to a
wallet from which no withdrawals are possible), the asset can
become deflationary, which means the more network effects kick in,
the scarcer the asset becomes."
#Bybit / #TheCryptoArk
About Bybit
Bybit is a top-three cryptocurrency exchange by volume with 30
million users established in 2018. It offers a professional
platform where crypto investors and traders can find an ultra-fast
matching engine, 24/7 customer service, and multilingual community
support. Bybit is a proud partner of Formula One's reigning
Constructors' and Drivers' champions: the Oracle Red Bull Racing
team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: media@bybit.com
For more information, please visit: https://www.bybit.com
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