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Here are the assets keeping institutions warm in the cryptocurrency winter


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Institutional portfolio data shows which assets are held by major cryptocurrency institutions.

Data provided by CryptoRank shows that major institutions have a clear preference for the US dollar (USDC) stablecoin, with Tether (USDT) being the only relevant but representing a much smaller amount of holdings.

Of the 10 major cryptocurrency institutions considered, Hashkey is the only one that holds USDT exclusively.

Krypto’s death was greatly exaggerated

The other four institutions holding USDT were Falconx, Fibig Capital, Spark, and LedgerPrime all also held USDT.

All of those except Ledger Prime held significantly more USDC than USDT. The remaining five institutions – Genesis Trading, Bitscale, Dragonfly, CMS and Infinity Ventures Crypto – did not hold USDT at all. In all, the institutions involved retained $177 million and just over $13 million.

Another leading asset is Ethereum (ETH), with Genesis Trading alone holding 119,000 ETH worth $200 million as of press, followed by Flaconx at $21.6 million and Hashkey at $3 million in Ethereum.

Other than the aforementioned stablecoin and Ethereum, there wasn’t much in common between the respective institutions’ wallets.

Genesis Trading has Composite (COMP) as its third largest asset – after Ethereum and USDC – and holds over $7 million in its portfolios. One asset appearing in multiple institutional portfolios is The Graph (GRT), a Web 3.0 infrastructure provider whose tokens both Genesis and Spark hold.

Another asset held by several institutions is the Lido DAO (LDO) – the token for the Ethereum liquid storage solution – which is owned by both Falconx and Bitscale Capital. Another example is the decentralized finance protocol DyDx (DYDX) maintained by Hashkey and CMS.

No other assets play a major role in more than one of the institution’s portfolios.

The findings follow a recent analysis that explains how institutional investors are playing an increasingly central role in the cryptocurrency market.

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