"Bull market in the first half of 2025: Institutions focus on Bitcoin (BTC) and Ethereum (ETH)... Individuals flock to meme coins"

According to The Block, a media outlet specializing in digital assets (cryptocurrencies), on the 14th (local time), digital asset market maker Wintermute analyzed that during the bull market in the first half of 2025, investment tendencies between institutions and individual investors were clearly divided.

According to Wintermute, institutions are focusing on major assets such as Bitcoin (BTC) and Ethereum (ETH), and are maintaining their allocation in major coins at up to 67% through inflows such as exchange-traded funds (ETFs).

In contrast, individual investors are flocking to meme coins and altcoins, with the major coin allocation falling to 37%. The gap between institutions and individuals reaches 30 percentage points.

Institutions have also increased their use of derivatives, with over-the-counter (OTC) option trading volume surging by 412% year-over-year.

Within the meme coin market, assets such as Bonk (BONK), Dogwifhat (WIF), and Popcat (POPCAT) received significant attention, while the market influence of Dogecoin (DOGE) and Shiba Inu (SHIB) has somewhat declined.

Wintermute added that the decision on approval of the Dogecoin spot ETF by the U.S. Securities and Exchange Commission (SEC), scheduled for October, could be a variable affecting meme coin demand in the second half of the year.