13.08.2026 17:51
The recent sharp price movements in the cryptocurrency market and issues that have emerged on some platforms are causing investors to focus not only on return potential but also on criteria such as asset security, reserve structure, liquidity, and risk management.
The latest data on the sector shows that despite the contraction in trading volumes, institutional investors have not completely distanced themselves from digital assets; instead, they have adopted a more controlled, diversified, and risk-management-focused approach.
According to TokenInsight's first-quarter 2026 report, the total trading volume on crypto exchanges declined by 32 percent quarter-on-quarter, while the drop reached 42 percent compared to the peak level in the third quarter of 2025.
Protection fund averaged $351 million in July
During a period of ongoing market confidence debates, the latest Protection Fund report released by Bitget also brought the issue of reserves and risk management back to the agenda.
According to the data disclosed by the company, the average size of the protection fund in July was *$351 million*. The fund reached its highest level of the month at $365.9 million on July 21, while the lowest value on July 1 was $329.8 million.
According to the report, the fund's reserve structure includes 5,500 Bitcoin. Bitcoin's movement between approximately $59,968 and $66,521 throughout July caused the fund's dollar-denominated value to fluctuate during the month.
Bitget positions this fund as an additional reserve mechanism to support user assets in extraordinary market conditions and unexpected events.
"The topic is no longer just returns"
Bitget CEO Gracy Chen, in her latest assessment, said that in her meetings with institutional investors, security, risk management, and capital efficiency have become more decisive in investment decisions.
According to Bitget CEO Gracy Chen, the agenda of institutional investors is no longer solely about achieving high returns. How assets are stored, how risk controls are conducted, and how efficiently capital can be used across different markets are also becoming prominent in decision-making processes.
Chen also stated that following last year's market shock, liquidity even on major trading platforms has declined compared to previous periods, and rebuilding trust can take longer than price recovery.
CoinGlass's research on the first half of 2026 also reveals that actionable liquidity in the Bitcoin market is still concentrated on a limited number of large platforms.
Institutional investors' view of crypto is changing
Another significant shift in the sector is the position of digital assets in institutional portfolios.
Bitget CEO Gracy Chen notes that after her meetings with institutional investors in the US and Europe, crypto is no longer viewed by many professional investors as a standalone speculative asset class.
It appears that crypto assets are beginning to become part of broader portfolio strategies alongside equities, commodities, and tokenized real-world assets.
According to DeFiLlama Research data, the total value of tokenized equities grew by over 140 percent in 2026, surpassing $1.9 billion. In addition to Bitget, various global platforms are also expanding their product and infrastructure efforts in this area.
Interest in tokenized assets is accelerating
Bitget's July transparency report also shows that users' interest in tokenized assets is increasing.
According to the data disclosed by the company, the ratio of users trading daily in rToken products increased *18-fold* in the period after the launch.
The assets under management on the rToken side exceeded the $100 million mark approximately five weeks after the launch, reaching around $114 million as of July 6.
It was also noted that cumulative trading volume reached $671.37 million in the same period, and over 100,000 users traded in rToken products.
According to Bitget data, 42.87 percent of users who purchased rToken for the first time increased their positions within the first seven days. This data indicates that tokenized assets are not limited to one-time user interest.
Competition is not measured solely by the number of products
Independent research also shows that a new competitive field is emerging in tokenized markets.
In CryptoRank's research on tokenized equities; liquidity, price slippage, investor rights, redemption structure, and underlying asset model were highlighted as key differences among platforms.
Bitget's Reality rToken products were also among the platforms compared in the research.
According to CryptoRank's results, Bitget stood out in the examined tokenized equity products with low price slippage and strong two-way liquidity results in large-volume simulated trades.
This picture shows that in tokenized financial products, not only which assets are offered, but also the liquidity and trading conditions under which these assets can be bought and sold are gaining importance.
Multi-asset approach is expanding
Bitget's recently developed Universal Exchange approach also focuses on bringing crypto assets and tokenized financial products together on the same infrastructure.
In July, the company expanded its structure to allow more than 100 tokenized US stocks to be used as collateral under certain conditions within the Unified Trading Account infrastructure.
Bitget also announced that it continues its work in AI-powered trading tools, institutional products, and on-chain finance.
In the company's July report, the assessment that tokenized assets are moving beyond being just an alternative product group and becoming a more visible part of active portfolio management and multi-asset strategies came to the forefront.
The rules of competition in crypto exchanges are changing
For many years, competition among crypto platforms was shaped by the number of listed tokens, trading volume, and user growth.
However, with the institutionalization of the market, new topics are gaining more importance:
- Transparent disclosure of reserves
- Asset security
- Liquidity depth
- Risk management
- Custody infrastructure
- Capital efficiency
- Access to different asset classes
Bitget's July data also stands out as one of the reflections of this transformation on the platform side.
The Protection Fund being at an average level of $351 million, the rise in user activity on the rToken side, and liquidity-focused infrastructure efforts show that the company is trying to develop security and product diversity together.
Trust may be the key to the new era
According to Bitget CEO Gracy Chen, bear markets force companies to refocus on fundamental issues.
Chen believes that in the coming period, it will not be the companies that remain in the market merely by reducing costs; rather, platforms that continue to develop infrastructure while managing short-term risks, achieve product-market fit, and provide solutions to users' real needs will stand out.
The latest data Bitget has disclosed regarding its protection fund, liquidity, and tokenized assets also indicate that the industry is now being reshaped not only by trading volume but by *security, reserve transparency, liquidity, and capital efficiency*.
*The market and industry data in the news have been compiled from TokenInsight, CoinGlass, CryptoRank, DeFiLlama Research, and publicly available company reports. The content is for general informational purposes only and does not constitute investment advice. Digital and tokenized assets may involve risks related to price volatility, liquidity, and counterparty risks.*