On November 11, 2026, at 19:17 (UTC+8), BlockBeats reported a Binance Research finding: institutional capital had entered crypto in size, but mainly through passive beta products such as ETFs. Active management had not kept pace.
The report did not attribute that gap to a lack of talent or of returns. It pointed to a missing middle layer — a discovery-and-verification link between capital and managers. Funding for crypto active strategies still depended heavily on personal networks and conferences. Standardized performance verification and a benchmark system were lacking.
Research cited in the report found that 80% of asset allocators ranked asset security ahead of historical returns. Verified trading-platform data, it said, could significantly strengthen due diligence. Managers named hard-to-verify track records and lengthy compliance reviews as the main obstacles to raising capital.
Capital Connect figures in the report showed a sharp split in where the money sat. Directional strategies accounted for 44.3% of funds but held only 6.7% of the capital. Market-neutral, statistical-arbitrage, and traditional multi-strategy funds were fewer than half of the fund count, yet they held 92.1% of the capital. The average institutional allocation to neutral strategies was about 11 times the size of an allocation to directional strategies.
For the October cited in that November 11, 2026 report, Bitcoin fell 7.2%. Directional funds still recorded an average gain of 1.9%, and neutral strategies an average gain of 1.0%. The coverage presented those results as evidence that active strategies had been resilient under pressure. The figures describe that reported window; they are not a claim about what caused the Bitcoin move or what follows it.
Binance Research concluded that institutional preferences and the introduction of traditional structures were pushing the market toward maturity. Allocators, it said, remained highly selective. Only a complete verification system and operational infrastructure, the firm said, would actually unlock inflows into active management.
Original article: BlockBeats, published November 11, 2026, 19:17 (UTC+8).
