A report by Coinbase and EY-Parthenon revealed that institutional investors are more likely to own XRP than Solana, with 34% of surveyed institutions allocating to XRP compared to 30% for Solana. The survey involved 352 global respondents, noting that many institutions hold only one or two cryptocurrencies beyond Bitcoin and Ethereum. While asset managers have initiated applications for exchange-traded funds (ETFs) for both cryptocurrencies, the approval for ETFs tracking Solana is uncertain due to regulatory scrutiny. The report highlights that a preference for traditional brokerage products remains, despite over a quarter of institutions owning cryptocurrencies. Interest in new crypto exchange-traded products remains high, with 68% indicating willingness to invest. Regulatory clarity remains a key concern for 53% of respondents, particularly around the classification of digital assets. The SEC's oversight has raised uncertainties about which assets are classified as securities or commodities, intensifying the need for clearer guidelines.

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