Are Wall Street Bulls Preparing for a Rally? Bitcoin and Ethereum Purchases Are Increasing! Coinshares Survey!

Bitcoin While it fell to $ 42,500 levels with the US Non-Farm Employment Data coming in much higher than expected, CoinShares announced the results of its latest digital asset fund manager survey.

Sharing survey results from account X James Butterfill, Head of Research at CoinShares, said that the vast majority of Wall Street participants are interested in Bitcoin and Ethereum and are buying them.

In our latest digital asset fund manager survey:

– 75% of all respondents believe Bitcoin and Ethereum have the most compelling growth outlook.

– Digital assets weighting in portfolios rose from 0.4% of the average respondent portfolio to 1.3%, indicating an increasing…

— James Butterfill (@jbutterfill) February 2, 2024

According to the survey results, Wall Street’s interest in digital assets has reached the highest levels of the year, especially in BTC and ETH, and their place in the portfolio has also increased.

Key Results from the CoinShares Survey:

• 75% of survey respondents Bitcoin and EthereumHe believes that will rise.
• This bullish sentiment is driving the weight of digital assets in portfolios to rise from 0.4% to 1.3%. This reflects an increasing allocation to digital assets and represents the highest level since the first quarter of 2023.
• The data shows that the price has reallocated out of the money into both stocks and alternative assets such as digital assets.
• Looking at current positions rather than expected growth outlook, Bitcoin and Ethereum account for 58% of participants’ digital asset portfolio; In the previous survey, this rate was 50%.
• Interestingly, while Solana’s perceived growth outlook has improved, few investors have added it to their portfolios.
• While interest in BTC and ETH continues to grow, participants’ fears of government bans and regulations appear to have dropped from 63 percent to 50 percent. But regulatory concerns remain at the top of the risk list.
• Additionally, an increasing number of participants have moved away from the idea that the Fed is making a clear policy mistake and towards being unsure whether the Fed will cut interest rates.

*This is not investment advice.