🚨 Bitwise surveyed 15 of the world’s largest institutions about their crypto positions. All that hold crypto own Bitcoin. For nearly all, it is their first, largest, and oldest position. Most view it as a store of value and increasingly associate it with gold. Ethereum and Solana are treated differently: - Smaller positions - Shorter time horizons - Pre-defined exit conditions These institutions want to see network activity and fees directly benefit the token. Several will sell if adoption doesn’t take off in the coming years. Their allocations range from 0.5% to 13% of investable assets, with most between 1% and 2%—enough to matter if the thesis plays out, but too small to derail a portfolio.