CoinVoice has learned that, according to The Block, there was a significant divergence in investment strategies between institutions and retail investors in the first half of 2025, with institutions increasing their investments in Bitcoin and Ethereum, while retail investors turned to memecoins and other altcoins. This change marks a significant shift in trading interests between institutions and retail, which had been roughly synchronized in their investment behaviors over the past few years.
According to Wintermute's report, the allocation ratio of institutions in major cryptocurrencies reached 67%, while the allocation ratio of retail investors decreased by 9%, falling to 37%. Institutions maintain their investments in major cryptocurrencies through ETF inflows and other new accumulation tools, while retail investors are more inclined to chase emerging high-risk opportunities. Wintermute CEO Evgeny Gaevoy stated that this divergence reflects the maturation and specialization of the crypto market.
In terms of technology, institutions widely adopted derivatives as tools for hedging, yield generation, and capital-efficient exposure in the first half of 2025, with trading volume of over-the-counter (OTC) options increasing by 412% compared to the first half of 2024. Going forward, Wintermute points out that the potential decision by the U.S. Securities and Exchange Commission in October regarding a spot Dogecoin ETF could impact retail demand. [Original link]
