Institutional adoption has long been crypto’s holy grail. But since the U.S. approval of spot Bitcoin ETFs in January 2024, the debate has moved to how much exposure is enough. The new battleground is whether large investors should allocate over 5% of assets under management to crypto. Any allocation above the pre-2025 “standard risk-adjusted threshold of 1-5%” would be a win for Bitcoin. That’s because it shows not only confidence, but also that institutions now consider crypto assets as a structural part ...