Bitcoin · Bitcoin ETF · Crypto Briefing
At least one sovereign wealth fund sells gold to buy Bitcoin, Bitwise logs
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Key facts
- The report is based on interviews with senior investment professionals across 15 large institutions conducted between March and April 2026
- Crypto allocations across the surveyed institutions ranged from 0.5% to 13% of total investable assets
- The allocation range of 0.5% to 13% provides a useful map of where institutional adoption currently sits
- At 1-2%, most institutions are still in “toe in the water” territory
Summary
Bitwise's first institutional crypto adoption report finds no surveyed institution sold Bitcoin during a 50% drawdown, with one sovereign fund liquidating gold to build its position. At least one sovereign wealth fund has been selling gold and foreign exchange reserves to fund Bitcoin purchases, according to Bitwise Asset Management’s first Institutional Crypto Adoption Report. The report is based on interviews with senior investment professionals across 15 large institutions conducted between March and April 2026. Every institution holding crypto assets in the survey held Bitcoin as its first, largest, and longest-held position. Most institutions in the survey explicitly treat both assets as hedges against fiat currency debasement.