A Coinbase and EY-Parthenon survey published on March 18, 2025 found that 83% of institutional investors planned to increase crypto allocations in 2025, while 59% said they expected to put more than 5% of assets under management into crypto. The findings matter in 2026 because they frame how large investors entered this year: with broader exposure to altcoins, stablecoins, DeFi, and tokenized assets, even as volatility and regulation remained the main constraints.
Institutional demand for digital assets is no longer centered only on bitcoin and ether. Coinbase said the survey covered decision-makers at 352 firms and was conducted in January 2025, after the 2024 market rebound and before later 2025 and 2026 policy developments. The report showed that 73% of surveyed investors already held cryptocurrencies beyond bitcoin and ether, 84% were using or exploring stablecoins, and DeFi participation was projected to rise from 24% to 75% within two years. Those figures help explain why institutional crypto coverage in 2026 increasingly focuses on portfolio construction, product access, and market infrastructure rather than simple entry into the asset class.
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The headline figure in the Coinbase survey is 83%, not 73%.
The 73% figure refers to surveyed institutions that already held crypto assets other than bitcoin and ether, according to Coinbase’s March 18, 2025 survey post based on 352 firms.
Coinbase Institutional Survey Snapshot
| Metric | Figure | Context |
|---|---|---|
| Institutions planning to increase crypto allocations | 83% | Global survey of 352 firms, January 2025 |
| Planning to allocate more than 5% of AUM to crypto | 59% | Shows move beyond small experimental positions |
| Holding altcoins beyond BTC and ETH | 73% | Signals broader portfolio diversification |
| Using or interested in stablecoins | 84% | Use cases include yield, FX, cash management, payments |
| Current DeFi participation | 24% | Projected by Coinbase to rise sharply within two years |
| Projected DeFi participation in two years | 75% | Driven by derivatives, staking, and lending interest |
Source: Coinbase and EY-Parthenon survey, published March 18, 2025; survey conducted January 2025.
83% Allocation Growth Signal Shows Crypto’s Institutional Shift
The most important takeaway from the Coinbase survey is that institutional investors were not just maintaining exposure. They were planning to add to it. Coinbase said 83% of surveyed investors expected to increase allocations in 2025, and 59% planned to commit more than 5% of AUM to crypto. That is a meaningful threshold because many institutions historically treated crypto as a tactical or experimental sleeve rather than a strategic allocation.
There is also historical context. Coinbase’s 2023 Institutional Investor survey said 64% of current crypto investors expected to increase allocations over the next three years, based on a survey fielded from October 19 to November 6, 2023. By comparison, the March 2025 survey showed a stronger near-term expansion signal, suggesting sentiment improved after the 2024 recovery and the launch of more regulated access points for digital assets.
Separately, Coinbase’s July 10, 2025 regional breakdown for Europe and the UK showed 86% of respondents there expected to increase holdings in cryptocurrencies, digital assets, or crypto funds in 2025, and 50% planned to allocate more than 5% of AUM to cryptocurrencies. That regional figure ran above the 83% global reading, indicating that institutional appetite was not limited to the US market.
Institutional Survey Timeline
October 19-November 6, 2023: Coinbase-commissioned Institutional Investor survey found 64% of current crypto investors expected to increase allocations over the next three years.
January 2025: Coinbase and EY-Parthenon surveyed 352 institutional decision-makers globally.
March 18, 2025: Coinbase published results showing 83% planned to increase crypto exposure in 2025.
July 10, 2025: Coinbase published EU and UK findings showing 86% expected to increase holdings in 2025 and 69% planned tokenized-asset investment by 2026.
Why 73% Altcoin Ownership Matters Beyond Bitcoin and Ether
The 73% figure in the survey is often misread. It does not describe the share of institutions planning to increase holdings. It refers to the share of surveyed investors whose firms already held cryptocurrencies besides bitcoin and ether. Coinbase said XRP and Solana were the most common altcoin positions among respondents, while 68% said they would be likely to buy single-asset exchange-traded products tied to altcoins such as SOL and XRP.
That matters because it shows institutional crypto adoption is broadening by product and by thesis. Instead of treating crypto as a single-asset macro trade, institutions increasingly appear to be segmenting exposure across store-of-value assets, smart-contract platforms, payments infrastructure, and tokenized finance. In practical terms, that can support demand for custody, execution, derivatives, and research coverage across a wider set of assets.
Coinbase’s regional EU and UK report reinforced that pattern. It said 71.3% of institutional investors in those markets that currently invest in spot crypto held one or more altcoins. The consistency between the global and regional data suggests that diversification beyond BTC and ETH was already embedded in institutional positioning before 2026 began.
Global vs EU/UK Institutional Findings
| Metric | Global Survey | EU/UK Survey |
|---|---|---|
| Increase holdings in 2025 | 83% | 86% |
| Allocate more than 5% of AUM | 59% | 50% |
| Hold altcoins beyond BTC and ETH | 73% | 71.3% |
| Interested in tokenized assets by 2026 | 76% intend to invest in some form | 69% plan to invest |
Source: Coinbase and EY-Parthenon, March 18, 2025 global survey; Coinbase EU/UK report, July 10, 2025.
24% to 75%: How DeFi and Stablecoins Entered Institutional Workflows
The survey’s most forward-looking data points were outside spot crypto. Coinbase said 84% of surveyed investors were either using stablecoins or interested in doing so. The main use cases were yield generation at 73%, foreign exchange at 69%, internal cash management at 68%, and external payments at 63%.
Those numbers show stablecoins were being evaluated as financial infrastructure, not just as settlement tools inside crypto markets. For institutions, that widens the addressable market from trading desks to treasury, payments, and cross-border operations. It also helps explain why regulatory clarity ranked so highly in the same survey: institutions can scale these use cases only when compliance, custody, and accounting treatment are clearer.
DeFi showed a similar pattern. Coinbase said only 24% of surveyed investors currently engaged with DeFi, but that share was expected to reach 75% within two years. The main areas of interest were derivatives, staking, and lending. In the EU and UK subset, DeFi engagement was projected to rise from 27% to 68% over two years. Even if those are intention figures rather than realized adoption, they indicate that institutions were already looking beyond passive holdings toward onchain financial services.
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Regulation remained the main brake on adoption.
Coinbase said 52% of surveyed investors cited the developing regulatory outlook as the top concern, ahead of volatility at 47% and secure custody at 33%.
2026 Setup: Regulation, Tokenization and Portfolio Scale
The survey was published in 2025, but its relevance extends into 2026 because several of its forward markers point directly into this year. Coinbase’s institutional research page for the 2025 survey said 76% of firms intended to invest in some form of tokenized assets by 2026. In the EU and UK report, 69% said they planned to invest in tokenized assets by 2026, while 98% expressed interest in tokenized bonds, equities, or funds.
That means the institutional crypto story in 2026 is not only about whether investors will buy more bitcoin. It is also about whether firms convert survey intent into product launches, treasury use, and onchain market participation. Coinbase’s own March 2026 institutional commentary said investors had become more cautious after early-year volatility, but that caution does not erase the survey evidence showing long-term engagement with crypto infrastructure and diversified digital-asset exposure.
For readers tracking the headline claim, the cleanest framing is this: Coinbase’s survey found 83% of institutional investors planned to increase crypto allocations in 2025, while 73% already held altcoins beyond bitcoin and ether. Both figures point to deeper institutional involvement, but they measure different things.
Frequently Asked Questions
Did Coinbase say 73% of institutions plan to increase crypto holdings in 2026?
No. Coinbase’s March 18, 2025 survey said 83% of surveyed institutional investors planned to increase crypto allocations in 2025. The 73% figure referred to firms already holding cryptocurrencies other than bitcoin and ether. Coinbase did publish some 2026-related projections, but not that exact headline claim.
How many firms were included in the Coinbase survey?
Coinbase said the global survey covered decision-makers at 352 firms and was conducted in January 2025 with EY-Parthenon. A separate EU and UK breakdown published on July 10, 2025 drew on about 100 institutional investors from that broader sample.
What did the survey say about portfolio size?
According to Coinbase, 59% of surveyed investors globally planned to allocate more than 5% of AUM to crypto in 2025. In the EU and UK subset, 50% said they planned to allocate more than 5% of AUM to cryptocurrencies, showing that crypto was moving beyond small test positions.
Which crypto segments attracted institutions besides bitcoin?
Coinbase said 73% of surveyed investors held altcoins beyond BTC and ETH, with XRP and SOL the most common examples named. The survey also showed strong interest in stablecoins, DeFi, and tokenized assets, indicating institutions were expanding across multiple digital-asset categories.
What were the biggest barriers to institutional adoption?
Coinbase reported that 52% of surveyed investors cited the developing regulatory outlook as the top concern, followed by volatility at 47% and secure custody at 33%. At the same time, 68% said greater regulatory clarity would be the next catalyst for digital-asset industry growth.
Conclusion
Coinbase’s institutional survey points to a simple but important distinction. The strongest growth signal was 83% of surveyed institutions planning to increase crypto allocations in 2025, while the 73% figure captured how many already owned altcoins beyond bitcoin and ether. Together, those numbers show institutional crypto adoption broadening in size, product mix, and use case. For 2026, the central question is no longer whether institutions are interested in crypto. It is how much of that stated demand turns into lasting allocations, tokenized products, stablecoin workflows, and onchain financial activity.
Disclaimer: This article is for informational purposes only. Information may have changed since publication. Always verify information independently and consult qualified professionals for specific advice.
