In a recent report, major market maker Wintermute analyzed investment trends among institutions and individual investors during the bull market in the first half of 2025.
Wintermute noted a clear and stark difference between institutional and individual investors. Analysts said that institutional investors are more likely to focus on large-cap assets like Bitcoin (BTC) and Ethereum (ETH), while individual investors are more likely to focus on memecoins.
According to Wintermute, institutional investors are focusing on BTC and ETH while maintaining their allocations in major cryptocurrencies up to 67% through inflows such as ETFs.
In contrast, retail investors are flocking to altcoins and memecoins. Institutions hold major cryptocurrencies in their portfolios at 67%, while retail investors hold only 37%.
Emerging memecoins like Bonk (BONK), Dogwifhat (WIF), and Popcat (POPCAT) have attracted significant interest among retail investors. This new trend is beginning to challenge the dominance of traditional memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB).
The report also noted that a potential SEC approval decision on spot Dogecoin ETFs in October could further increase interest from individual investors.
Wintermute CEO Evgeny Gaevoy said the growing gap between institutional and individual investors is a sign of market maturation.
“Investors are no longer following the same trend. While institutions view cryptocurrencies as macro assets, individual investors continue to gravitate towards innovation.”
*This is not investment advice.