TechFlow, September 17 — Bybit has released its latest "Q3 2025 Asset Allocation Report." The report shows that investors are significantly reducing stablecoin holdings and reallocating into Solana (SOL), XRP, and other altcoins. While Bitcoin (BTC) and Ethereum (ETH) remain core portfolio assets, institutional investors are leading a market shift toward higher-yield crypto assets from stablecoins. Key findings include:
In overall investor allocations, BTC accounts for approximately one dollar out of every three; ETH holdings have increased by 20% since the previous report; XRP has become the third-largest non-stablecoin asset.
The concentration of BTC and ETH in non-stablecoin assets declined from 58.8% in May 2025 to 55.7% in August 2025, primarily due to increased capital flows into altcoins.
Stablecoins were significantly reallocated during Q3 toward SOL, XRP, and other altcoins.
Solana holdings reached a new annual high, with market expectations that it will replicate the "institutional fund management" strategies seen with BTC and ETH.
Decentralized exchange (DEX) tokens benefited the most from stablecoin outflows, followed by Layer 1, Layer 2, and RWA (real-world asset) tokens; meme coins showed lackluster performance, while gold-backed tokens remain a minor segment.
Bybit's research team noted that Q3 trends highlight sustained rising interest in altcoins. Institutional investors are particularly evident in reducing "cash-like" positions to capture market momentum, while BTC and ETH remain foundational for long-term allocation. The rise of SOL, XRP, and DEX tokens reflects an accelerating trend toward diversification in crypto portfolios.
