In terms of flows, 55% of institutional clients continue to bet on BTC and ETH, while the rest continue to believe in altcoins

Institutional investors may be more open to crypto assets other than Bitcoin (BTC) and Ethereum (ETH), according to David Duong, Head of Institutional Research, at Coinbase.

As per Duong, about half of all institutional flows on Coinbase are directed toward assets other than Bitcoin and Ethereum. He made these remarks during a live chat with crypto analyst Scott Melker.

In terms of flows, 55 per cent of institutional clients continue to bet on Bitcoin and Ethereum, while the remaining believe in altcoins. Duong is of the view that a lot of attention is being paid to what is going on in the ecosystem outside of Bitcoin and Ethereum.

Certainly, Ethereum will be the next big thing given the expectation of the Shanghai fork.

Duong says that market environment is relatively unpredictable at present because of macro factors, seasonality, and the possibility for crypto to detach itself from other risk assets.

He said: I think what is happening right now tends to be a lot more macro-focused, in so far as, I think what people do not realize is this just seasonally a weaker period for a lot of risk assets because we are in between that period where people have their bonus payments, putting money into their 401ks, and right before we are getting a lot of checks being cut for tax season.

Mark Yusko, the founder and Chief Executive Officer of investment advisor Morgan Creek Capital Management, also appeared on the show. Yusko thinks that Bitcoin could soon be entering a new bull market. Crypto spring is largely range-bound price action, with summer representing a bullish phase.

The fact that institutional investors are more focussed on altcoins other than Bitcoin and Ethereum indicates that the crypto market may become more diversified in the upcoming months.

This could have a positive effect on the overall market by raising demand for altcoins, which could increase their value.