Bitwise CEO Hunter Horsley says the market is moving past the long-running idea that institutions are merely preparing to enter crypto. In a March 27 post on X, he wrote: “The ‘institutions are coming’ phase is about to be over. They’re here, or arriving shortly.” He added that many firms already have exposure, with another large wave expected within the next six months.
Allocations are shifting from exploratory to strategic
Horsley described the change as a near-term inflection point driven by sustained inflows and broader participation from large allocators. He pointed to a Coinbase Institutional survey released last week covering 351 firms. In that survey, 74% said they expect higher prices over the next 12 months, while 73% said they plan to increase their crypto allocations. Position sizing is also becoming more meaningful: 29% said they are targeting portfolio weights above 5% by 2026. That suggests a move away from small trial positions toward strategic exposure.
Financial advisors are expanding distribution
Bitwise also pointed to growth on the advisor side. In the Bitwise/VettaFi 2026 survey, 32% of advisors said they allocated to crypto in 2025, up from 22%. Another 56% reported personal ownership of crypto. Portfolio depth is increasing as well: 64% of crypto portfolios were above 2% exposure, and 42% of advisors said they can now transact crypto for clients. Bitwise Chief Investment Officer Matt Hougan said: “Crypto’s future has always depended on what financial advisors think of it.”
Bitwise links survey trends with broader financial integration
Last week, Horsley said crypto is becoming an institutional asset class. He tied the survey results to longer-term infrastructure buildout across financial services, arguing that market participation is starting to look less like an isolated cycle and more like integration into mainstream finance. He also said in January that by the end of 2026, most major financial institutions would be involved in crypto through products and services. The article presents that view as part of a broader shift in which institutional frameworks and capital deployment are expanding at the same time.