Institutional Crypto Holders Weather 50% Market Downturn

A recent report from Bitwise found that institutional investors remained committed to their cryptocurrency holdings despite a significant market downturn. In interviews conducted in March and April, the asset management firm spoke with 15 organizations that hold crypto assets, including endowments, foundations, public pensions, sovereign wealth funds, multi-family offices, investment consultants, and public companies.

None of these institutions reported reducing their cryptocurrency allocations during a roughly 50% drawdown in the market, which began in October 2025. In fact, several respondents said they actually increased their exposure to crypto assets during this time.

Bitcoin (BTC) was found to be the core holding for all surveyed organizations, with many viewing it as a store of value similar to gold. By contrast, Ethereum (ETH) and Solana (SOL) were held in smaller allocations, with institutions requiring clearer conditions for their continued ownership.

Institutions emphasized that they would sell their cryptocurrency holdings if faced with regulatory reversals or an industry-wide credibility problem. They also highlighted the importance of token value accrual, stating that they would exit ETH and SOL positions if network growth did not translate into benefits for token holders.