Institutions that want in on DeFi are buying Ethereum first: fund manager

As reported by CryptoSlate previously, DeFi now contains over 4.2 million ETH and over $4.2 billion worth of locked value.

Much of this interest, as aforementioned, has accrued in the value of DeFi tokens such as the ones aforementioned.

According to a fund manager in the space who has contacts interested in the ongoing Ethereum narratives, ETH is getting some bid as well from institutional investors entering the crypto space.

Ethereum may be getting a bid from institutions interested in DeFi.

DeFi has been quite a popular topic in recent weeks.

"My read on #DeFi after speaking with instl investors, fund mgrs, OTC desks, and FOs over the last few wks: The herd is coming. They're excited about DeFi but new to it, so they're buying $ETH first."

They're excited about DeFi but new to it, so they're buying $ETH first.

Noon does think that investors with exposure to Ethereum but an interest in DeFi will eventually "Move up the risk spectrum" to tokens once they are more comfortable with industry concepts and protocol.

Still early days for ETH. Although ETH may be a beneficiary of the ongoing DeFi craze, it's still early days for the asset's foray into being an addition to the portfolio of institutions and professional fund managers.

This is not exactly surprising considering that there is currently no mainstream vehicle for institutions to gain exposure to Ethereum.