On July 15, according to TheBlock, Wintermute released the latest report indicating significant differences in investment strategies between retail and institutional investors during the bull market in the first half of 2025, with a notable divergence in trading interests that had been mostly synchronized in previous years.
The report shows that institutional investors continue to double down on major cryptocurrencies like Bitcoin and Ethereum, while retail investors tend to favor meme coins and other Altcoins. Institutions seek stable investment exposure, whereas retail investors chase more novel, high-risk opportunities. The gap between institutional and retail investors in major cryptocurrency allocation has reached a record high of 30 percentage points. Institutional allocation for mainstream cryptocurrencies remains at 67%, primarily achieved through ETF inflows and other new accumulation tools, while retail cryptocurrency allocation for mainstream cryptocurrencies has dropped 9% to 37%. Wintermute CEO and Founder Evgeny Gaevoy stated in the report: "This divergence is not temporary; it indicates that we are experiencing a more mature, complex, and specialized crypto market. Investors are no longer chasing the same trends. Institutions view cryptocurrencies as macro assets, while retail traders continue to be attracted by innovation."
