Bitwise Reports Institutional Investors Are Increasingly Holding Bitcoin
News related to:Bitwise Asset Management · 2 min read
SAN FRANCISCO, Sept. 23, 2026 /CourierPR/ -- Bitwise Asset Management, a global crypto asset manager with $9 billion in client assets, has released its inaugural report on institutional crypto adoption. The report, titled "Institutional Crypto Adoption," provides insights from in-depth interviews with senior investment professionals from 15 of the world's largest institutions, including endowments, foundations, public pension funds, sovereign wealth funds, multi-family offices, investment consultants, and public companies.
The study reveals that despite a significant market downturn, none of the institutions interviewed reduced their crypto allocations. In fact, several institutions increased their investments during the market drawdown, which saw a roughly 50% decline between Q4 2025 and Q2 2026. Matt Hougan, Chief Investment Officer at Bitwise, stated that this trend suggests adoption is happening faster and more durably than the general public realizes.
Bitcoin emerged as the universal institutional conviction asset, with every institution interviewed that owns crypto holding it. For most institutions, Bitcoin is their first, largest, and longest-held crypto asset, often seen as a store of value and a hedge against fiat debasement.
Ethereum and Solana, on the other hand, were held as thesis-dependent bets. Institutions that own these assets hold smaller positions, with explicit exit conditions tied to the accrual of value to the underlying token. Several institutions indicated that if meaningful adoption does not materialize in the next few years, they will sell their holdings.
The report also highlights that crypto allocations among institutions range from 0.5% to 13% of investable assets, with most between 1% and 2%. These allocations are typically split across ETFs, direct ownership, venture capital, and hedge funds. Spot ETFs have reshaped institutional access, with almost every institution either using spot ETFs or planning to do so.
According to the report, the consistent thinking across these institutions is striking. Despite different mandates, governance, and constraints, institutions have arrived at a similar approach to crypto in their portfolios.
Bitwise expects a majority of institutional investors to hold crypto within five years. The firm's findings suggest that the adoption of crypto by large institutions is not only happening but doing so more durably than previously anticipated. The report provides a comprehensive view of how the world's largest institutions are navigating the crypto landscape, offering valuable insights for both investors and the broader financial community.