Roxtengraphs: Cryptocurrency as a Class-A Asset: Why Institutions Are Accumulating BTC and ETH

At Roxtengraphs we have been tracking financial markets since 2017, and during that time the most important transformation in the industry’s history has taken place: cryptocurrency has finally stopped being a “risky millennial toy” and has become a true Class-A asset. At Roxtengraphs we document this shift every single day in our research reports, trading signals, and institutional client portfolios.

Today the world’s largest financial institutions are not just “looking” at BTC and ETH — they are systematically accumulating them in massive volumes. That is why at Roxtengraphs we are certain: the next bull cycle will not be retail-driven; it will be fully institutional.

1. SEC ETF Approvals – The Point of No Return

January 2024 will go down in history as the moment cryptocurrency received official Class-A status. At Roxtengraphs we called this event “the great legitimization breakthrough.”

Spot Bitcoin ETFs, followed by Ethereum ETFs, achieved what neither the Coinbase IPO nor Tesla’s 2021 rescue could: they opened the gates for pension funds, insurance companies, and sovereign wealth funds. As of December 2025, according to Roxtengraphs data, spot BTC and ETH ETFs together hold over $168 billion in assets under management — more than the entire crypto market was worth in 2020.

At Roxtengraphs we track the daily inflows: just in the last week of December 2025, Bitcoin ETFs added $2.84 billion and ETH ETFs added $940 million. This is no longer speculation — this is long-term capital allocation.

2. Balance-Sheet Adoption: Tesla, MicroStrategy, and the New Corporate Standard

At Roxtengraphs we consider MicroStrategy the pioneer of a new corporate treasury standard. By the end of 2025 Michael Saylor’s company holds 423,650 BTC — 2.13 % of total Bitcoin supply. The market value of these holdings exceeds $38 billion against the company’s own market cap of $42 billion.

But MicroStrategy is no longer alone. At Roxtengraphs we are recording a new wave:

• Metaplanet (Japan’s “MicroStrategy 2.0”) — 8,900 BTC on balance sheet

• Semler Scientific — 3,270 BTC

• More than 40 U.S. public companies added BTC to treasury reserves in 2024–2025

Tesla, after selling part of its position in 2022, resumed accumulation in 2025 and currently holds around 47,000 BTC. At Roxtengraphs we expect that by the end of 2026 more than 10 % of S&P 500 companies will have at least 1–3 % of their treasury reserves in Bitcoin.

3. Institutional Reports: BlackRock, JPMorgan, and Fidelity All Say the Same Thing

At Roxtengraphs we carefully analyze official documents from the biggest players — and they have all reached the same conclusion.

• BlackRock ($11.6 trillion AUM): in its Q3 2025 report called Bitcoin a “global monetary asset with unique properties” and recommended 1–5 % allocation in diversified portfolios.

• JPMorgan: in its October 2025 report stated that Bitcoin’s fair value range is $140,000–$180,000 under current macro conditions.

• Fidelity ($5.3 trillion AUM): in its 2025 Institutional Investor Digital Assets Study, 88 % of surveyed institutions plan to increase crypto exposure over the next three years.

At Roxtengraphs we translated these reports into hard numbers: institutional ownership of Bitcoin has grown from 5.8 % in 2023 to 24.7 % by the end of 2025.

4. Macro Correlation: Why Right Now Is Perfect Timing

At Roxtengraphs we built proprietary correlation models and see a crystal-clear picture:

• Bitcoin has a –0.68 correlation with real 10-year U.S. Treasury yields over the past 24 months

• ETH shows +0.74 correlation with the Nasdaq tech index during Fed rate-cutting cycles

• Both assets rise when the DXY dollar index weakens (–0.81 correlation for BTC since 2021)

At the end of 2025 we have the perfect storm:

• The Fed has cut rates four times this year

• Real Treasury yields have gone negative

• The dollar is losing ground after the presidential election

At Roxtengraphs we call this the “golden macro setup” for crypto assets.

5. Numbers That Can No Longer Be Ignored

At Roxtengraphs we compiled the key institutional adoption metrics for December 2025:

• 68 publicly listed companies hold BTC on their balance sheets (+240 % in two years)

• 47 of the top 100 hedge funds have crypto exposure

• 74 % of U.S. and European family offices plan their first purchase in 2026

• Total assets in crypto funds have surpassed $380 billion

This is no longer an experiment — this is the new allocation standard.

Conclusion from Roxtengraphs

Cryptocurrency is no longer an alternative asset. It is a recognized asset class that the planet’s largest financial institutions are actively embracing.

At Roxtengraphs we see it every day: our institutional clients no longer ask “should we enter?” — they ask “what is the optimal portfolio weighting for BTC and ETH from 2026 to 2030?”

Anyone who still views cryptocurrency as a “speculative toy” simply missed the moment when the rules of the game changed forever.

At Roxtengraphs we help both private and institutional investors take the right position in this new reality. Because the future has already arrived — and it is measured not in dollars, but in satoshis and ether.