Coinbase Asset Management CEO’s allocation recommendation

“You’re gonna, at least for a period of time, wish you’d had a million bucks in solana”

article-image

oneshot1/Shutterstock modified by Blockworks

share


This is a segment from the Empire newsletter. To read full editions, subscribe.


Trump’s win could have you cooking up all sorts of profitable trading strategies. 

It’s only natural, considering it feels like we’re on the cusp of a new paradigm: for arguably the first time ever, US regulators might take it easy on crypto and let innovation flourish.

And so the topic of risk appetite came up on today’s Empire podcast episode

Yano asked Eric Peters, CEO and CIO of both Coinbase Asset Management and One River, what he’d prescribe for a 30-40-year-old first-time crypto investor who has a million dollars to allocate and a strong appetite for risk.

“I would advocate for them to be overweighted to bitcoin and ether but have some exposure to solana. Maybe 50/35/15 [percent], something like that,” Peters said. “[But] I think if you’re right on that trade, you’re gonna, at least for a period of time, wish you’d had a million bucks in solana.”

The question was really posed within the immediate context. Still, we can backtest Peters’ suggestion. 

And even better, plot it alongside Coinbase’s new benchmark crypto index COIN50, which is currently weighted 51.5% BTC, 23.4% ETH, 7% SOL with the remaining 18% or so spread across 47 other altcoins including DOGE, XRP, BCH and BONK.

The above, in log view, plots the value of that $1 million allocation from the end of 2020, which is when COIN50’s performance data starts. 

There’s indeed an element of time bias. The period starts in the leadup to the epic 2021 bull run when SOL’s market cap was under $100 million (now $117 billion).

So, back then, it would be questionable just how likely it would be to split a million-dollar allocation between BTC, ETH, and a token so small in relative terms.

In any case, the purple shows the split highlighted by Peters, which turned $1 million into $27 million and would now be at all-time highs for dollar value.

ETH maxis were second best with $4.2 million. And while there are currently no ETPs tracking COIN50, if there were, that vehicle would’ve converted to a $3.8 million portfolio. 

Someone who aped a million dollars in BTC meanwhile would be holding $3.15 million right now.

For scale: Anyone who bought an index fund tracking any major benchmark from legacy finance would, at best, be sitting on $1.64 million, via the Nasdaq 100. 

That’s a minimum $1.5 million difference between stocks and crypto. It’s hard to put an exact value on risk appetite, but that’s as solid a number as any.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template (1).jpg

Research

As AI supercharges surveillance, privacy becomes a prerequisite and the winning stack will combine confidentiality with selective disclosure. Zcash’s Tachyon, composable standards on Ethereum/Solana, and compliance-aware pools aim to make private rails the new norm.

article-image

Pineapple begins deploying its $100 million Injective Digital Asset Treasury, staking INJ to earn yield and fund onchain mortgage ambitions

by Blockworks /
article-image

Staking levels in the ether funds will depend on protocol unstaking queue times and anticipated redemption activity, firm says

article-image

ETF inflows, miner strength, and tightening supply drive Bitcoin past its prior peak amid renewed demand for scarce assets

by Blockworks /
article-image

The Guidestar team, led by Alex Nezlobin, will join Uniswap Labs to enhance automated market maker design and smart order routing

by Blockworks /
article-image

Zac Prince spearheads Galaxy’s push into consumer banking with high-yield cash, crypto, and stock trading features

by Blockworks /