Solana (SOL), a rival to Ethereum (ETH), is witnessing a significant surge in allocations from professional investors this year, according to a recent survey conducted by CoinShares, a digital assets manager. The survey collected responses from 64 investors worldwide who manage a combined $600 billion in assets under management. These investors include wealth managers, hedge funds, institutions, family offices, financial advisors, and individual investors.

CoinShares explains that investors are diversifying their exposure to alternative coins, and Solana has experienced a remarkable increase in allocations. The survey highlights that this is primarily driven by a few large investors who hold more weight in the survey. On the other hand, XRP has seen a notable decline, with none of the respondents currently holding it.

Digital assets represented an average of 3% of the respondents’ portfolios, which is the highest weighting since CoinShares started conducting the survey in 2021. The firm attributes a significant portion of this increase to institutional investors who now have the opportunity to gain exposure to Bitcoin through US ETFs.

CoinShares also notes that regulation remains a significant barrier for investors who have refrained from investing in digital assets. While they expected this barrier to decrease, the survey reveals that specific cohorts of investors, especially in wealth management and institutional spaces, still face challenges in entering the asset class. However, fewer investors now believe that digital assets lack a fundamental investment case.

At the time of writing, SOL is trading at $135.12. This cryptocurrency holds the fifth position in terms of market capitalization and has experienced a decline of over 6% in the past 24 hours.

Please note that the opinions expressed in this article are not investment advice, and investors should conduct their own due diligence before making high-risk investments in Bitcoin, cryptocurrency, or digital assets. The Daily Hodl, the source of this information, does not recommend buying or selling any cryptocurrencies or digital assets, nor is it an investment advisor.