Key Takeaways
- • CoinShares' October 2026 Digital Asset Fund Manager Survey, published November 10, found average crypto allocations among surveyed managers rose to 1.3% from 1.2% in July.
- • Diversification became the leading motivation for crypto investment at 40% of responses, while speculation fell to fifth place with less than 9%.
- • The 28 surveyed investors oversee approximately $642 billion in assets under management.
- • Bitcoin retained the strongest growth outlook by a considerable margin, while Ethereum and Solana sentiment improved slightly; interest also rose in newer altcoins including SUI, NEAR, Aave, Hyperliquid, Uniswap and Chainlink.
- • Regulatory uncertainty and corporate investment restrictions remain the leading barriers for non-investors, and volatility, following Bitcoin's roughly 50% drawdown over the prior 12 months, is the top risk cited by existing holders.
Summary
CoinShares reported that institutional fund managers increased their cryptocurrency allocations in October 2026, with the average allocation across surveyed portfolios rising to 1.3% from 1.2% in July, according to its Digital Asset Fund Manager Survey published November 10. The survey gathered responses from 28 investors overseeing approximately $642 billion in assets under management. CoinShares attributed the increase to a broader shift away from equities and bonds toward alternative investments, including commodities and cryptocurrencies.
Diversification has overtaken speculation as the primary rationale for crypto investment. Diversification accounted for 40% of responses, a significant increase from prior surveys and a trend CoinShares has tracked since the survey began in 2021. Speculation, previously among the leading motivations, fell to fifth place with less than 9% of responses. Investors also reported increased views that digital assets are attractively valued following price gains over the prior quarter, while citations of client demand as a reason to invest declined significantly.
Bitcoin and Ethereum remained the dominant holdings, accounting for 47% of portfolio positioning responses. Bitcoin retained the strongest growth outlook among digital assets by a considerable margin, while sentiment toward Ethereum and Solana improved slightly versus the previous survey. The survey also identified greater interest in newer altcoins, including SUI, NEAR, Aave, Hyperliquid, Uniswap and Chainlink, alongside reduced interest in several established altcoins such as Cardano and in multi-asset strategies. CoinShares noted that family offices and individual investors maintain some of the largest digital asset positions due to more flexible mandates.
Barriers to entry persist. Among respondents yet to invest, regulatory concerns and corporate investment restrictions were the leading obstacles. A perceived lack of fundamental value remained a concern, though CoinShares said it has declined considerably over the past year, and reputational risk was cited about half as often as in the previous quarter. For existing holders, volatility remained the biggest perceived risk, which CoinShares linked to Bitcoin's approximately 50% drawdown over the preceding 12 months. Regulatory concerns also remained elevated, particularly amid continued delays in the passage of the CLARITY Act.
Diversification has overtaken speculation as the primary rationale for crypto investment. Diversification accounted for 40% of responses, a significant increase from prior surveys and a trend CoinShares has tracked since the survey began in 2021. Speculation, previously among the leading motivations, fell to fifth place with less than 9% of responses. Investors also reported increased views that digital assets are attractively valued following price gains over the prior quarter, while citations of client demand as a reason to invest declined significantly.
Bitcoin and Ethereum remained the dominant holdings, accounting for 47% of portfolio positioning responses. Bitcoin retained the strongest growth outlook among digital assets by a considerable margin, while sentiment toward Ethereum and Solana improved slightly versus the previous survey. The survey also identified greater interest in newer altcoins, including SUI, NEAR, Aave, Hyperliquid, Uniswap and Chainlink, alongside reduced interest in several established altcoins such as Cardano and in multi-asset strategies. CoinShares noted that family offices and individual investors maintain some of the largest digital asset positions due to more flexible mandates.
Barriers to entry persist. Among respondents yet to invest, regulatory concerns and corporate investment restrictions were the leading obstacles. A perceived lack of fundamental value remained a concern, though CoinShares said it has declined considerably over the past year, and reputational risk was cited about half as often as in the previous quarter. For existing holders, volatility remained the biggest perceived risk, which CoinShares linked to Bitcoin's approximately 50% drawdown over the preceding 12 months. Regulatory concerns also remained elevated, particularly amid continued delays in the passage of the CLARITY Act.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.