Asset Allocation (1H 2025) – Bitcoin forms one-third of investors’ portfolios; XRP rises to third-largest coin
AI Summary
Show More
Quickly grasp the article's content and gauge market sentiment in just 30 seconds!
Key Highlights:
As of May 2025, investors hold one Bitcoin out of every three coins they possess, while since November 2024 XRP has become the third-largest non-stablecoin crypto asset.
BTC and ETH concentration has climbed to 58.8% of non-stablecoin investments in May 2025, propelled mainly by ETH’s rebound.
As of May 2025, if an investor holds $1 in ETH, they’re likely to hold $4 in BTC.
Solana holdings plunged from 2.72% in November 2024 to 1.76% in May 2025, in stark contrast to Solana’s bullish trend in Q3 2024 (as highlighted by our last report)
Investors hold one Bitcoin for every three coins they possess
As of May 2025, Bitcoin remains the largest single asset held by all users, accounting for 30.95% of their total assets, up from 25.4% in November 2024.
XRP surpassed SOL in November 2024 to become the third-largest non-stablecoin cryptocurrency after Bitcoin and ETH, primarily due to the anticipation of XRP Spot ETFs likely becoming the third such exchange-traded fund to be approved by the SEC.
In contrast, SOL’s holding percentage has fallen by 35% since October 2024.
Lastly, ETH’s holding percentage hasn’t yet recovered to its peak of November 2024 (at 11.12%), but its percentage in terms of holding more than doubled in May 2025 from its low of 3.89% in April 2025.
If an investor holds $1 in ETH, they likely hold $4 in BTC
As of May 2025, ETH/BTC holding percentage stands at 0.27, meaning that for each $1 an investor holds in ETH, they likely hold $4 in BTC.
Despite a range-bound ETH/BTC price ratio from October 2024 to April 2025, the ETH/BTC holding percentage ratio did increase substantially from 0.25 to 0.45 in late December 2024. Stepping into 2025, ETH’s bullish allocation trend reversed, with the ETH/BTC holding percentage ratio plunging to a low of 0.15.
ETH’s price rebound in May 2025 saw both the ETH/BTC price ratio and ETH/BTC holding percentage ratio recover substantially. Yet, we didn’t see a similarly bullish allocation trend for ETH back in Q4 2024.
XRP holding percentage doubled from November 2024 to May 2025
With its bullish price movement, XRP has come out as a winner among altcoins, its holding percentage surging from 1.29% in November 2024 to 2.42% in May 2025.
Notably, both institutions and retail traders are consistently becoming bullish on XRP, likely attributable to the higher chance of XRP Spot ETF approval by the SEC by 2025. As of this writing (Jun 21, 2025), traders on Polymarket predict a 90% chance of Ripple Spot ETF approval by 2025.
The crypto investing industry view is that Ripple Spot ETF approval is likely ahead of such approval for a Solana Spot ETF. As such, we’ve observed partial capital allocation on the part of institutions move from SOL to XRP.