During the 2025 bull run, institutional investors have significantly increased their holdings in Bitcoin (BTC) and Ethereum (ETH), while retail investors are gravitating towards memecoins. Wintermute, a key player in the crypto market, has noted this trend, which highlights the contrasting strategies between institutional and retail investors. This shift suggests a growing institutional confidence in established cryptocurrencies, while retail investors are drawn to the potential high returns offered by memecoins.