Institutional Crypto Demand Experiences Significant Decline

According to Odaily, Delphi Digital recently reported on the X platform that institutional demand for cryptocurrencies has significantly decreased, with traffic dropping by 90% from its peak in August. In August 2025, DAT Treasury Company saw an influx of funds reaching $5.5 billion, but this has now fallen to less than $500 million per month. October's fund flows are nearly invisible, with Bitcoin attracting the remaining institutional interest while altcoin trading has largely stalled. Strategy is also showing signs of weakness, with its mNAV plummeting from approximately 2.5 at the beginning of 2025 to around 1.2 today. Speculative premiums have significantly reduced, although MSTR continues to trade above the value of its Bitcoin holdings. Institutional capital remains in a wait-and-see mode, with the value of existing positions diminishing.