Announced: Banks Invested in Cardano and These 6 Altcoins!
Banks are investing in altcoin projects such as Cardano, XRP and Solana, according to a report released Friday by the Basel Banking Supervisory Committee.
According to the IS report, banks hold Cardano and these 6 altcoins after BTC and ETH
The report published by the BIS for the day revealed which cryptocurrencies banks hold. According to the report, the total value of crypto assets reported by banks amounts to around 9.4 billion euros. This amount can be considered relatively small as it accounts for about 0.14% of total investments.
According to the BIS report, banks mainly prefer to hold Bitcoin and Ethereum. BTC has the largest share among all cryptocurrencies with 56.1%. Ethereum is in second place with 32.8%. Other altcoins in the top 10 are Polkadot, XRP, Cardano, Solana, Litecoin, Stellar and Binance Coin.
The report shows that the vast majority of traders are instruments based on Bitcoin and Ethereum or both. The figures are dominated by the services that banks provide to others, such as custody, clearing and market making. Only a handful of banks are fully involved in holding or lending crypto directly. According to the report, 10 of the 19 banks currently investing in cryptocurrencies are located in the Americas. Other 7 banks are based in Europe