Institutions Hold Crypto Through Drawdowns, Expect Majority to Own in Five Years

Bitwise Asset Management, a global crypto asset manager, has released a report on institutional crypto adoption. The study, which interviewed senior investment professionals at 15 of the world's largest institutions, found that not one institution reduced its crypto allocation during a roughly 50% drawdown in Q4 2025 and Q2 2026.

No institution named price as a reason they would sell. Bitwise expects a majority of institutional investors to hold crypto within five years.

The report also found that Bitcoin is the universal institutional conviction asset, with every institution interviewed owning it. Many institutions view Bitcoin as a store of value and pair it with gold as a fiat debasement hedge.

Ethereum and Solana are held as thesis-dependent bets, with institutions holding smaller positions on shorter horizons with explicit exit conditions tied to token value accrual.