CoinShares survey: Crypto allocations rise to 1.3% of portfolios

CoinShares' survey found that cryptocurrency accounted for an average 1.3% of institutional investors' portfolios, up from 1.2% in July. The 0.1 percentage-point increase extends a shift away from stock- and bond-heavy allocations toward commodities, cryptocurrency and other alternative assets.

A preference for alternative assets over cash also stood out in the results. That allocation pattern links a modest increase in crypto exposure with a broader reassessment of how investors divide their portfolios.

What changed investors' reasons for holding crypto?

Portfolio diversification ranked first, accounting for 40% of investment justifications. The survey also recorded a growing willingness to describe cryptocurrency as a valuable investment opportunity.

Speculation fell to fifth place, with its share below 9%. Customer demand exerted less influence on investors' decisions, while diversification's rise has continued since 2021.

The contrast separates the purpose of holding crypto from the assets investors selected to express that purpose. Investors cited portfolio construction more often than speculation, and the survey suggests those motives now shape allocation alongside asset choice.

The 40% figure describes respondents' reasons, not their portfolio weights. Crypto's portfolio weight stands at 1.3%, even after the increase from July.

Which assets lead investors' preferences?

Bitcoin ($BTC) remained the most preferred asset in terms of growth expectations, according to CoinShares. Bitcoin and Ethereum together represented 47% of participants' assets, maintaining the two assets' core positions in portfolio preferences.

Altcoin preferences shifted toward:

• Sui
• NEAR
• Aave
• Hyperliquid
• Uniswap
• Chainlink

The named group gives investors a wider shortlist beyond the Bitcoin-Ethereum pairing. CoinShares also reported a slightly improved outlook for Ethereum and Solana.

Bitcoin's placement at the top of growth expectations contrasts with speculation's fall to fifth place. Investors still expected growth from the leading asset, but they justified holding cryptocurrency mainly through diversification.

What does the survey establish for allocators?

Three findings stand out: cryptocurrency's average portfolio share increased, diversification became the leading justification, and altcoin preferences broadened. The survey also showed weaker roles for speculation and customer demand as drivers of investment.

Institutional allocators therefore face a different selection task than investors treating cryptocurrency primarily as a speculative position. The 1.3% allocation sits within portfolios that also include stocks, bonds, commodities and cash.

That framing keeps the allocation decision tied to diversification and the growth expectations attached to Bitcoin. It also gives renewed attention to the altcoins investors now favor and to the improved outlook for Ethereum and Solana.

How much can the data support?

The summary does not disclose the survey's sample size, the month of fieldwork or respondent geography. It reports investor preferences, portfolio weights and investment motivations, but no transaction volume, fee data or realized returns.

The 1.3% allocation figure, the 40% diversification share and the 47% Bitcoin-Ethereum figure describe different measures. One captures average portfolio exposure, another the leading rationale, and the third the share attributed to Bitcoin and Ethereum. Those measures should not be read as equivalent.

Despite those limits, the reported findings point in the same direction: more crypto in portfolios, less reliance on speculation and a broader preference list beyond Bitcoin and Ethereum. The practical consequence is that crypto sits inside a diversified allocation framework, not at its center.

What comes next?

Future survey readings, when available, will show whether the 1.3% weighting advances, whether diversification remains above speculation, and whether the six named altcoins retain investor preference. Until then, the results document a small allocation increase supported by a broader portfolio rationale, rather than a decisive institutional shift.

This article is not investment advice.