A recent report by market maker Wintermute shows that in the first half of 2026, institutional investors accounted for approximately 72% of spot trading volume on its over-the-counter (OTC) platform, setting a new record high and surpassing the approximately 61% recorded in the second half of last year. The report notes that this growing institutional dominance is driving down volatility in the crypto market, leading to more selective capital flows into altcoins, and fostering the growth of tokenized assets.