Bitwise says 15 institutions held crypto through downturn

Bitwise Asset Management says none of 15 institutions it interviewed cut their cryptocurrency allocations during an approximately 50% market decline from October 2025 through April 2026, while several increased their exposure. The firm’s findings describe a small, anonymized group and do not establish how institutional investors generally behaved during the downturn. The interviews, conducted in late March and April with investment professionals responsible for allocations, covered endowments, foundations, pension funds, sovereign wealth funds, multifamily offices, investment consultants and public companies. Bitwise’s first Institutional Crypto Adoption Report says respondents’ allocations ranged from 0.5% to 13% of investable assets, with most between 1% and 2%. Bitcoin was held by every crypto-owning institution in the sample and was typically its first, largest or longest-held digital asset, according to Bitwise. Ethereum and Solana appeared less consistently, often in smaller positions with more explicit conditions for continued ownership. Some respondents said they could sell those assets if growth in network activity did not translate into value for the tokens.