KEY TAKEAWAYS
- Bybit’s report reveals Bitcoin and Ethereum dominate crypto portfolios, with Bitcoin alone accounting for nearly one-third of holdings.
- Ethereum shows signs of recovery, while XRP surpasses Solana to become the third-largest non-stablecoin asset.
- Solana experiences a significant decline in investor interest, reflecting a shift in capital allocation strategies.
Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has released a comprehensive report detailing the asset allocation trends among crypto holders for the first half of 2025. The report, which covers data from October 2024 to May 2025, highlights significant shifts in investor behavior and preferences.
According to the report, Bitcoin (BTC) and Ethereum (ETH) continue to lead the market, collectively accounting for 58.8% of the total non-stablecoin investments as of May 2025. Notably, Bitcoin alone represents 30.95% of total investor holdings, marking a substantial increase from 25.4% in November 2024. This means that approximately one in three crypto assets in portfolios is now Bitcoin.
Ethereum’s Recovery and XRP’s Rise
Ethereum’s performance has been noteworthy, with the asset rebounding from a low of 3.89% in April 2025. Although it has not yet reached its November 2024 peak of 11.12%, ETH’s recovery is a positive sign for investors. The current ETH/BTC holding ratio stands at 0.27, indicating that investors typically hold $4 in BTC for every $1 in ETH.
XRP has emerged as the third-largest asset among non-stablecoin cryptocurrencies, overtaking Solana (SOL). XRP’s holdings have doubled from 1.29% to 2.42% by May 2025. This surge is largely attributed to growing optimism around the potential approval of XRP Spot ETFs by the U.S. Securities and Exchange Commission (SEC).
Solana’s Decline in Investor Interest
In contrast to XRP’s rise, Solana has experienced a decline in investor interest. Despite its previous bullish momentum in the third quarter of 2024, Solana’s holdings have decreased by 35%, from 2.72% in November 2024 to 1.76% in May 2025. This shift reflects changing investor sentiment and capital allocation strategies.
The full Asset Allocation Report for the first half of 2025 is available for download on Bybit Learn. For more details, the report can be accessed here.
Why This Matters: Impact, Industry Trends & Expert Insights
The recent Bybit report highlights significant trends in cryptocurrency asset allocation, with Bitcoin and XRP showing notable growth in investor portfolios. Bitcoin’s share has increased to nearly one-third of total holdings, while XRP has climbed to the third position among non-stablecoin assets.
According to Unlock BC, Bitcoin’s dominance in crypto portfolios has surged, driven by increased institutional adoption and the rise of spot Bitcoin ETFs. This aligns with the Bybit report’s findings that Bitcoin now represents a significant portion of investor holdings, reflecting its role as a core asset in portfolios.
FX Empire notes that expert opinions suggest a high likelihood of approval for XRP Spot ETFs, with Bloomberg analysts projecting a 95% chance. This supports the Bybit report’s observation of growing optimism around XRP, as such approval could significantly enhance its market position and investor appeal.
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