Asset Allocation (Q3 2025) – Stablecoin holding percentage falls as investors allocate them to SOL, XRP and other altcoins significantly in Q3 2025

Key Highlights:

• Investors still hold one dollar in Bitcoin for every three US$ they possess; Ether saw a 20% increase in holding % since our last report; XRP has become the third-largest non-stablecoin crypto asset.

• Investors allocate stablecoins to SOL, XRP and other altcoins significantly in Q3 2025

• Solana holdings surge to their highest levels in 2025, as investors anticipate the same treasury strategy will apply to SOL.

• DEX tokens are the largest beneficiaries of falling stablecoin levels. Layer 1 tokens, Layer 2 tokens and real-world assets (RWA) follow. Meme tokens barely moved, while gold tokens are still a minority

Investors who hold $1 in ETH likely hold $3 in BTC