According to a recent survey by CoinShares, Solana, a competitor of Ethereum, is experiencing a significant increase in professional investor allocations this year. The survey gathered insights from 64 investors globally managing a collective $600 billion in assets.

Respondents included various types of investors such as wealth managers, hedge funds, institutions, family offices, financial advisors, and individual investors. The survey revealed that investors are diversifying their exposure to alternative coins, with Solana specifically witnessing a remarkable surge in allocations due to a few large investors making significant investments.

Furthermore, the survey highlighted a substantial decline in XRP holdings among participants. Digital assets accounted for an average of 3% in the portfolios of respondents, the highest proportion since CoinShares initiated its survey in 2021. The firm attributed this increase mainly to institutional investors gaining access to bitcoin through US ETFs.

Despite the growing interest in digital assets, some investors still refrain from investing due to regulatory concerns, as mentioned in the survey results. It seems that wealth management and institutional sectors face significant entry barriers into the asset class. However, fewer investors now doubt the fundamental investment case for digital assets.

Solana is currently trading at $135.12 and has experienced a slight decrease of over 6% in the past 24 hours in value.