CoinShares found a significant increase in hedge funds and wealth managers survey respondents who have allocated to Solana compared to earlier this year.
Institutional investors appear to be “broadening their exposure to altcoins” including Solana (SOL), which has seen a “dramatic increase in allocations” from wealth managers and hedge funds, says CoinShares.
“Investors are more optimistic for Solana,” the asset manager’s head of research, James Butterfill, wrote in an April 24 report based on its survey of 64 investors with a combined $600 billion in assets under management.
Nearly 15% of surveyed investors said they had invested in SOL, a significant bump from CoinShares’ January survey which showed none of the respondents had any investment in the altcoin.