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Bitcoin treasuries and ETF inflows strengthen BTC’s role as a digital reserve asset.
Ethereum could rebound with upgrades and new institutional access via staking-enabled ETFs.
More crypto-native IPOs are expected to deepen Wall Street’s crypto exposure.
The first half of 2025 has been a milestone for cryptocurrencies. Bitcoin is up approximately 15% year-to-date, outperforming major benchmarks like the S&P 500, which is up around 7%. Total inflows into spot Bitcoin exchange-traded funds (ETFs) have reached more than $15 billion as of early July, signaling sustained institutional demand.
With increased political backing, widespread adoption by public companies, and broader ETF market innovation, the stage is set for a dynamic second half of the year.
One of the most talked-about trends we've seen so far in 2025 is the emergence of "Bitcoin treasury companies," public firms that use Bitcoin as a reserve asset. While we've seen some early adopters, such as Strategy, for several years now, we're starting to see new companies, like Metaplanet and Twenty One, join the cohort of "Bitcoin treasury" companies.
Together, these firms now number more than 135 and hold a significant chunk of the total Bitcoin supply.
As macroeconomic conditions continue to apply, more companies, particularly technology and financial services firms, to adding Bitcoin to their balance sheet as an inflation hedge. Experts believe that for many mid-sized and large enterprises, it’s no longer a question of if Bitcoin should be on the balance sheet, but when.
The second half of the year could see several major corporations announce their entry into Bitcoin, potentially pushing prices higher and solidifying BTC's role as a digital reserve asset.
Also Read: Will Bitcoin Hit $1 Million in the Next 10 Years?
The ETF market continues to be a major catalyst for crypto adoption. Following the approval of spot Bitcoin ETFs earlier in the year, institutional capital has poured into these products. Some ETFs have already expanded to include new redemption models, staking rewards, and support for additional tokens such as Ethereum, Solana, and XRP.
Regulatory progress has played a crucial role in this transformation. Legislative efforts, such as the GENIUS Act, and policy endorsements from top officials have enhanced the investment climate for digital assets.
These developments are expected to drive approvals of new ETFs by year-end, further enhancing investor access and reducing friction.
As ETF inflows accelerate and more asset types are included, the second half of 2025 may bring one of the most diverse and active crypto fund markets ever.
With Bitcoin absorbing more institutional interest through treasuries and ETFs, there are questions about whether altcoins will suffer from reduced demand.
Historically, altcoin interest has been driven by two factors: a desire for leveraged exposure to Bitcoin trends and demand for unique blockchain-based applications. While the first use case may now be better served by ETFs, altcoins with strong technological differentiation still have room to perform.
In particular, assets tied to decentralized finance (DeFi), gaming, or real-world asset tokenization could see renewed interest, especially if regulators adopt a more open stance toward experimentation in those sectors.
Also Read: Why Altcoin Traders Should Trade Smarter, Not Hold in 2025
The success of stablecoin issuer Circle’s initial public offering (IPO) earlier this year has paved the way for more crypto-native firms to go public. Exchanges like Gemini and Kraken, blockchain developers like Consensys, and infrastructure providers are all potential IPO candidates for late 2025.
Public listings provide a new avenue for investors to gain exposure to crypto beyond simply holding tokens. These companies represent the backbone of the digital asset economy and could attract mainstream capital seeking long-term exposure to blockchain innovation.
As these IPOs roll out, the crypto sector will gain even greater legitimacy on Wall Street.
Ethereum has long held the second spot in the crypto market, but 2025 has been a year of mixed performance. While it has rebounded strongly in recent months, it still trails Bitcoin in year-to-date gains. Moreover, newer smart contract platforms like Solana and Binance Smart Chain are challenging its dominance.
Despite this, Ethereum still holds several strategic advantages: it is deeply integrated with traditional finance, supports robust futures markets, and now has spot ETFs approved in multiple regions.
Analysts believe that staking-enabled ETFs could dramatically improve institutional participation in ETH.
Ethereum’s future also hinges on upcoming technical upgrades aimed at scalability and efficiency. If executed well, these changes could renew momentum and help ETH regain ground lost to competitors.
The remainder of 2025 looks poised to continue crypto’s expansion into traditional finance and global markets:
Bitcoin is becoming the preferred treasury asset, with more corporations expected to allocate reserves into BTC.
ETF innovation is accelerating, expanding access to crypto for institutional and retail investors alike.
Altcoins still hold potential, particularly those with distinct real-world applications and strong user communities.
Crypto IPOs are creating new pathways for equity-based exposure to digital assets.
Ethereum is on the brink of a pivotal period, with upgrades and new ETF structures possibly catalyzing a resurgence.
Investors and analysts should monitor corporate treasury disclosures, ETF flow data, legislative developments, and DeFi adoption metrics as key indicators for crypto’s next moves. Whether it’s Bitcoin dominance or altcoin resurgence, the second half of 2025 could be another defining chapter for digital finance.
1. What are Bitcoin treasury companies?
Firms that hold Bitcoin as a long-term asset, often to hedge inflation or signal digital-forward balance sheets.
2. How much ETF capital has entered Bitcoin in 2025?
Over $15 billion in inflows have gone into spot Bitcoin ETFs by early July.
3. Are altcoins still relevant in H2 2025?
Yes, altcoins with strong use cases in DeFi, tokenization, and gaming still have growth potential.
4. Why is Ethereum under the spotlight now?
With staking in ETFs and key protocol upgrades coming, Ethereum could stage a strong second-half rally.
5. What’s next in crypto IPOs?
After Circle's success, exchanges like Gemini and developers like Consensys are next in line for potential listings.
