Institutions Ride Out Crypto Downturn, Maintain Allocations

Fifteen large institutions have demonstrated resilience in their crypto allocations despite the market's roughly 50% decline. During the period from the fourth quarter of 2025 to the second quarter of 2026, these institutions maintained their commitment to cryptocurrencies, with some even increasing their holdings during the downturn.

The institutions allocated between 0.5% and 13% of their investable assets to crypto, with most concentrations ranging from 1% to 2%. Every institution with crypto exposure held Bitcoin (BTC), which was viewed as a store of value and grouped with gold as a hedge against fiat currency depreciation.

This report marks the first institutional crypto adoption study, drawing on interviews with investment professionals responsible for crypto allocations at these 15 institutions. Their views on cryptocurrency's role in their portfolios are now on record.