In accordance with the <a href="https://f.hubspotusercontent00.net/hubfs/6024551/Genesis%20-%20Quarterly%20Reports/Genesis%20Q2%20Report.pdf" target="_blank" rel="nofollow noopener">data</a> released by Genesis Global Trading, big players are showing a growing interest in Ethereum and Defi sector in particular. The report suggests institutional investors have been shifting their focus from Bitcoin to Ethereum and other decentralized finance tokens over the past months. 
<h2>Genesis Global Trading Suggests Institutional Interest Shifting to Ethereum and Defi</h2>
A crypto brokerage firm, Genesis Global Trading, recently published a quarterly report that says that the institutional players are <a href="https://www.cryptoknowmics.com/news/institutional-investors-are-still-concerned-about-bitcoin-security-survey/">shifting</a> their focus from Bitcoin to Ethereum and Defi.

Matt Ballensweig, the Head of institutional lending at Genesis, mentioned in the report:

“Trends both in Genesis’s activity and the broader market confirm the changing role of Bitcoin as the industry’s gateway asset, and highlight the emerging protagonism of Ethereum and decentralized finance.”

https://twitter.com/MattBallen4791/status/1422912687286202369?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1422912687286202369%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fdecrypt.co%2F77730%2Finstitutional-investors-showing-increased-interest-ethereum-defi-genesis-global

Mentioning the fall in the market dominance of Bitcoin, Matt revealed that Bitcoin dominance has plunged from 70% in late 2020 to below 45% at the end of the second quarter of the year 2021. 

At the time of writing this article, the market share of <a href="https://www.cryptoknowmics.com/news/france-intends-to-launch-the-first-eu-regulated-etf-to-track-bitcoins-price/">Bitcoin</a> is 43.6%. While on the other side, the prices of Ethereum and other blue-chip Defi have doubled over the same period of time.

Genesis report noted that the trading volumes in the company surged significantly from trading of assets such as Uniswap, Aave, and SushiSwap, including Solana, and Binance Smart Chain.
<h2>CEO Michael Moro on the Growing Involvement of Institutional Investors</h2>
Michael Moro, the CEO of Genesis, addressed the increasing interest of institutional investors in the crypto markets and stated:

“The growing involvement of legacy financial institutions in crypto markets is making it impossible to ignore. The industry will continue to mature as we see greater adoption of crypto assets and diversification within the space.”

Addressing Bitcoin as collateral, Moro said:

“A big portion of our current lending business is about posting the Bitcoins the companies buy as collateral and borrowing the U.S. dollar against them. The idea that Bitcoin is good collateral is quite new.”

There's a Growing Institutional Interest in Ethereum, Defi - Genesis Global Trading

In accordance with the data released by Genesis Global Trading, big players are showing a growing interest in Ethereum and Defi sector in particular.

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.

There's a Growing Institutional Interest in Ethereum, Defi - Genesis Global Trading

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