Information Technology
Bybit's Institutional Investors Triple ETH Exposure Ahead of 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."
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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.
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View original content: https://www.prnewswire.co.uk/news-releases/bybits-institutional-investors-triple-eth-exposure-ahead-of-etf-launch-302178969.html