Bybit Q3 2025 Asset Allocation Report: Stable Coin Positions Decline, Funds Flow to SOL, XRP and Other Altcoins

Bybit released the latest "2025 Third Quarter Asset Allocation Report". The report shows that investors are significantly reducing their stablecoin holdings and instead increasing their allocations to Solana (SOL), XRP and other altcoins. Although Bitcoin (BTC) and Ethereum (ETH) are still at the core of the portfolio, institutional investors are leading the market, moving from stablecoins to crypto assets with higher returns. The report pointed out that among investors' overall holdings, BTC accounts for about 1 of every 3 US dollars; ETH positions have increased by 20% since the previous report; XRP has become the third largest non-stable currency asset. The concentration of BTC and ETH in non-stable currency assets fell from 58.8% in May 2025 to 55.7% in August 2025, mainly due to more funds flowing to altcoins. Stablecoins were significantly redistributed to SOL, XRP and other altcoins during Q3. Solana's holdings hit an annual high, and the market expects it to replicate BTC and ETH's "institutional fund management" strategy. Decentralized exchange (DEX) tokens have become the biggest beneficiary of stablecoin capital outflows, followed by Layer 1, Layer 2 and RWA (real world asset) tokens; Meme coins perform poorly, and gold tokens are still in a minority position.