Bitwise says institutions held crypto allocations despite 50% market drop

Bitwise said a survey found no institutions reduced their crypto allocations while the market fell 50%. The survey was conducted from late March through April among investment professionals at 15 institutions, including universities, endowments, pension funds, sovereign wealth funds, family offices and public companies. Despite a downturn in the crypto market from October last year through April this year, not a single respondent cut exposure, while some added to positions. Most respondents said they are using spot crypto ETFs or plan to do so. Crypto allocations among those institutions ranged from 0.5% to 13% of investable assets, with most at around 1% to 2%. Bitwise said concerns including governance, operational issues and reputational risk remained key barriers to increasing institutional crypto allocations.