Institutional positioning also shows different roles emerging across major digital assets. Charles Schwab director of global equity research Adam Lynch recently discussed Bitcoin, Ethereum, Solana, XRP, and Hyperliquid separately. Lynch described Bitcoin as the traditional crypto asset linked to concerns about fiat currency debasement. He said Ethereum offers greater functional utility while still fitting into that broader theme.
He placed Solana, XRP, and Hyperliquid in a higher-volatility and higher-risk category. Rather than replacing larger crypto holdings, he described them as assets that investors could pair with core positions.
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Goldman Sachs, meanwhile, holds $88 million in spot Solana ETF exposure based on disclosure filings cited in the discussion. Those filings make it the largest disclosed institutional holder mentioned in the material. Public filings may not capture every institutional Solana position because disclosure requirements differ among holders.
Schwab is also adding , Avalanche, and Chainlink to its crypto trading platform, expanding beyond its existing Bitcoin and Ethereum access. Separately, Grayscale Research identified Bitcoin, Ethereum, and Zcash as assets that could benefit from the so-called debasement trade. This thesis follows US national debt moving above $40 trillion alongside continued fiscal deficits.