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Ruholamin Haqshanas
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Ruholamin Haqshanas
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Bitwise Asset Management, a leading crypto exchange-traded fund (ETF) issuer, has projected that at least five prominent crypto firms, often referred to as “crypto unicorns,” will go public in 2025.
The list includes stablecoin issuer Circle, cryptocurrency exchange Kraken, the “crypto bank” Anchorage Digital, blockchain analytics firm Chainalysis, and the crypto trading platform Figure.
These companies are anticipated to launch Initial Public Offerings (IPOs), marking their first sale of shares to the public, according to Bitwise’s “10 Crypto Predictions for 2025” report published on December 10.
Year of Crypto IPO
Matt Hougan, Bitwise’s Chief Investment Officer, and Ryan Rasmussen, its Head of Research, described 2025 as the “Year of the Crypto IPO.”
They attributed this forecast to growing investor demand, increasing institutional adoption, a favorable macroeconomic backdrop, and an improved regulatory environment.
In their report, Hougan and Rasmussen predict Bitcoin (BTC) could surpass $200,000 by the end of 2025.
They further speculate that Bitcoin might reach $500,000 if the United States adopts a strategic Bitcoin reserve as proposed by Senator Cynthia Lummis, with the government purchasing one million BTC over five years.
Even without such a reserve, they believe Bitcoin could eventually eclipse gold’s $18 trillion market capitalization, a milestone they anticipate by 2029.
Ethereum (ETH) is also expected to perform strongly, with its price potentially hitting $7,000 next year.
The surge would be driven by increased activity on Ethereum Layer 2 networks, inflows from spot Ether ETFs, and expanding use of tokenized assets and stablecoins.
Meanwhile, Solana (SOL) is predicted to rise significantly, with its price forecasted to reach $750, a 250% increase from its current valuation.
Bitwise expects the growth to stem from new high-profile projects launching on the network.
Bitwise foresees Coinbase’s stock price more than doubling to $700, positioning the company as the most valuable brokerage platform by overtaking Charles Schwab.
The duo attributes this growth to Coinbase’s diverse revenue streams, including its Ethereum Layer 2 Base, staking services, and stablecoin operations.
They also expect Coinbase to gain a spot in the S&P 500 index alongside MicroStrategy’s potential inclusion in the Nasdaq-100.
U.S. Spot Bitcoin ETFs to Grow Even More
Additionally, the analysts project substantial growth for U.S. spot Bitcoin ETFs, predicting inflows to surpass $33.6 billion from this year.
They emphasize that major wealth management firms, including Morgan Stanley and Bank of America, are likely to introduce crypto products to clients in 2025, further accelerating adoption.
Bitwise also highlights the rapid rise of tokenized real-world assets, predicting their value will grow from $13 billion to $50 billion in 2025.
They cite benefits such as instant settlement, 24/7 liquidity, and lower costs compared to traditional securitization.
In another noteworthy forecast, Bitwise anticipates an “even bigger meme coin mania” in 2025, driven by artificial intelligence (AI).
The influence of AI on meme coins has already been demonstrated, with AI-powered promotions helping obscure tokens like GOAT achieve billion-dollar market caps.
The report projects that the stablecoin market will double to $400 billion in 2025, aided by anticipated U.S. legislation that provides clearer regulatory guidelines.
Furthermore, the Department of Labor is expected to ease restrictions on including crypto in 401(k) retirement plans, opening new avenues for institutional capital.
