Bybit released its "Q3 2025 Asset Allocation Report," showing that investors continued to reduce their stablecoin holdings and increase their allocations to SOL, XRP, and other altcoins. While BTC and ETH remain core assets, their concentration in non-stablecoin holdings decreased from 58.8% in May to 55.7% in August. SOL holdings reached a new yearly high, while stablecoin funds primarily flowed into DEXs, L1/L2, and RWA tokens, while memecoins performed flat. Institutional investors are leading this asset rotation, strengthening the role of altcoins in their portfolios.