A recent report from Bitwise indicates that institutional investors maintained their cryptocurrency holdings despite a market drawdown of approximately 50% that began in October 2025. The study, based on interviews conducted in March and April 2026, involved 15 institutions, including endowments, sovereign wealth funds, and public companies.
Bitcoin remains the primary asset for these investors, often serving as their largest and longest-held position. While many view Bitcoin as a store of value comparable to gold, Ether and Solana are treated as smaller bets with shorter investment horizons. Some institutions have established specific exit conditions for these assets based on network growth.
None of the interviewed institutions cited falling market prices as a reason to sell their crypto assets. Instead, they identified potential triggers for divestment as regulatory reversals, industry-wide credibility crises, or the failure of their original investment thesis. Some noted they would exit Ether or Solana if network usage failed to boost token value.
Allocations to cryptocurrency among the surveyed group ranged from 0.5% to 13% of investable assets, with the majority falling between 1% and 2%. Most institutions reported using or planning to use spot crypto exchange-traded funds, with some shifting away from direct custody or private placements toward these financial products.
