When Bitcoin fell from $125K to $60K, not one of the 15 major institutions Bitwise interviewed sold, and many bought more. Ryan Rasmussen, head of research at Bitwise, breaks down the firm’s first institutional crypto adoption report, covering pensions, endowments, foundations, and sovereign wealth funds, and why they treat Bitcoin alongside gold as a hedge against debasement.

Chapters:
0:00 Ryan Rasmussen on Bitwise’s Institutional Crypto Adoption Report
0:49 Why No Institutions Sold Bitcoin During the Bear Market
1:45 Wells Fargo’s 2–3% Bitcoin Allocation and the Debasement Thesis
3:45 Fidelity, BlackRock, and 2–8% Bitcoin Allocations
4:50 How ETFs Made This Bitcoin Bear Market Shallower
6:24 $2.5B in Weekly ETF Inflows and a New Wave of Capital
7:06 Why Bitwise Believes the Bitcoin Bottom Was $60K
9:36 Why Institutions Hold Both Bitcoin and Gold
11:37 Sovereign Wealth Funds Selling Gold to Buy Bitcoin
15:17 Why Bitcoin Isn’t Correlated to Bonds, Gold, or Stocks

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