Crypto Market Shakeup: Bitcoin Leads, Ethereum Retreats, XRP Overtakes Solana

Bitcoin has maintained its top position in the digital asset space, gaining ground as U.S. regulations loosen and institutional interest picks up. This movement has also been supported by the rollout of spot Bitcoin exchange-traded funds (ETFs), which have driven more structured investment into the asset.

Bitcoin Extends Lead as Institutional Focus Shifts

Bybit reports that investors now hold Bitcoin in roughly one out of every three crypto positions, with its share of total portfolios climbing to 30.95% in May 2025, up from 25.4% in November 2024.

This significant rise reflects how major players are repositioning, with a clear tilt towards Bitcoin as a core digital asset. CoinGecko data reinforces this, showing that Bitcoin’s dominance across the broader crypto market has surpassed 62%. 

Ethereum Allocation Contracts as Focus Centres on BTC

While Bitcoin is tightening up its hold on the market, Ethereum is slowly losing ground in investor portfolios. The latest figures reveal a clear shift in sentiment, with institutions leaning further into Bitcoin and stepping back from ETH. The contrast between the two assets is becoming harder to ignore.

Here’s what the latest data shows about this turning tide:

• As at May 2025, the ETH-to-BTC holding ratio hit 0.27, with Bitcoin outweighing Ether four to one in portfolios
• 245 institutional players now include BTC in their treasury holdings
• Combined corporate and ETF holdings exceed 3.45M BTC, a growing chunk of total supply
• Retail investors have pulled back, with holdings down 37% since November 2024

While Ethereum’s share has dipped, it has seen signs of recovery. Between April and May 2025, ETH holdings rebounded from a low of 3.89%, almost doubling in a month. 

However, it remains below the November 2024 peak of 11.12%, showing that Ethereum’s position is still under pressure relative to Bitcoin.

XRP Overtakes Solana as Expectations Rise

Meanwhile, XRP has climbed the ranks to become the third largest non-stablecoin crypto asset by holdings, overtaking Solana. This shift is being fuelled by expectations surrounding an XRP spot ETF. With investor sentiment favouring regulatory approval, capital has begun to rotate into the token.

Bloomberg analysts have maintained a 95% probability for XRP’s spot ETF approval, reflecting strong confidence in its prospects. Meanwhile, Polymarket’s odds have declined to 75% at the time of writing. 

Despite the slight downgrade, the asset remains a frontrunner in market discussions, particularly when compared to other alternative tokens. Bybit wrote:

With its bullish price movement, XRP has come out as a winner among altcoins, its holding percentage surging from 1.29% in November 2024 to 2.42% in May 2025.

Bybit observed that interest in Solana has softened significantly. Since October 2024, the percentage of investor holdings in SOL has declined by 35%. Though prospects for a Solana ETF remain, confidence appears to be lower in the near term.

Market participants widely expect that Ripple’s ETF will be given regulatory clearance ahead of Solana’s. This belief has led to a visible shift in asset allocation. Some institutional funds have reduced their exposure to Solana, reallocating into XRP in anticipation of more immediate ETF approval. This rotation of capital has helped XRP edge ahead in the rankings.

Ifeoluwa O.

Ifeoluwa specializes in Web3 writing and marketing, with over 5 years of experience creating insightful and strategic content. Beyond this, he trades crypto and is skilled at conducting technical, fundamental, and on-chain analyses.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.