Institutions Maintained Bitcoin Holdings During 2025–2026 Crash, Some Increased Exposure

A Bitwise Asset Management report found that 15 major institutions—including endowments, pension funds, sovereign wealth funds, family offices, and public companies—did not reduce their bitcoin allocations during the October 2025 to April 2026 crypto market downturn. Several institutions bought the dip, and none cited price declines as a reason to exit positions. Bitcoin remains the primary crypto holding for all institutions surveyed, often their first crypto purchase and largest allocation. Other tokens were held in smaller, time-bound speculative bets. One endowment projected bitcoin could reach a $20 trillion market cap within five to 15 years.