Crypto investors are widening their focus beyond bitcoin and ether despite the market downturn, according to Robinhood head of crypto Johann Kerbrat.
“I think what we see from our customers is that they actually see it as an opportunity,”
Kerbrat told Cointelegraph, adding that many view the pullback as “an opportunity to buy the dip.”
“So we actually see a lot of customers continuing to trade crypto and diversifying, not just on the top two or three assets, but actually going pretty wide,”
He said, referring to bitcoin and ether as the dominant holdings.
The comments contrast with views expressed in November by Coinbase Asset Management president Anthony Bassili, who said investors had a “very, very clear view” that bitcoin comes first and ethereum second, while uncertainty remained over which asset should rank third.
Institutional activity remains more cautious, with MidChains chief executive Basil Al Askari saying large asset managers are primarily executing block trades in the top 20 tokens rather than moving into smaller-cap altcoins or decentralised finance strategies.
Kerbrat also noted rising engagement with staking and decentralised finance features on the platform since December, saying, “It’s been pretty fun to see, to be honest. It's always surprising.”
The shift in retail behaviour comes as overall market sentiment remains fragile, with the Crypto Fear & Greed Index stuck in “Extreme Fear” territory and US spot bitcoin ETFs recording roughly $3.8 billion in net outflows over five consecutive weeks.
At the time of reporting, Bitcoin price was $66,569.00.