Based on Odaily, Delphi Digital reported a 90% decline in institutional crypto demand compared to the August 2025 peak of $5.5 billion. Monthly inflows have now fallen to less than $500 million, with October activity nearly nonexistent. BTC remains the sole focus of institutional attention, while altcoin trading has largely stalled. Strategy metrics also show weakness, with mNAV dropping from around 2.5 at the start of 2025 to approximately 1.2 today. Speculative premiums have sharply contracted, though MSTR still trades above its BTC holdings. Institutional capital is currently in a holding pattern, with existing positions losing value.
Delphi Digital: Institutional Crypto Demand Drops 90% from August Peak to Under $500M Monthly
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