Bitwise Asset Management's report reveals at least one sovereign wealth fund sold gold and foreign reserves to buy Bitcoin, marking a significant shift in reserve asset strategy. Despite a 50% Bitcoin price drop from late 2025 to mid-2026, none of the surveyed institutions reduced their Bitcoin holdings, indicating strong institutional confidence. Most institutions hold Bitcoin as their primary crypto asset with allocations typically between 0.5% and 2%, while one fund notably allocated 13%. The report highlights Bitcoin ETFs helped cushion market declines and suggests growing, though cautious, institutional adoption of Bitcoin as a hedge alongside gold.
The report on sovereign wealth funds shifting from gold to Bitcoin is notable alongside Pluang's crypto market breadth where 22 of 50 major cryptocurrencies rose and 27 fell as of Sep 30, 2026 07:02 WIB. Among these, Kusama (KSM) gained 4.39% to Rp86.688 with a typical hold time of 79 days and a strong sell order activity of 94%. Conversely, Harmony (ONE) and The Graph (GRT) declined by 4.62% and 4.52% respectively, with ONE priced at Rp43 and GRT at Rp523, both showing more sell than buy activity on Pluang.
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