Galaxy Research has published its 2025 cryptocurrency market forecast, predicting skyrocketing growth for Bitcoin and Ethereum.
According to the official announcement, the researchers anticipate that Bitcoin will surpass $150,000 in the first half of 2025 and could reach or surpass $185,000 in the fourth quarter.
Additionally, Ethereum is expected will surpass $5,500 in 2025 while the combined US spot Bitcoin ETPs will surpass $250 billion AUM in 2025.
Bitcoin To Hits $150k in 2025H1
In 2025, Bitcoin will reach unprecedented heights due to a mix of institutional, corporate, and nation-state acceptance, according to Galaxy Research.
Over the course of its existence, Bitcoin has outperformed all other asset classes, especially gold and the S&P 500, and this trend is expected to continue in 2025. Additionally, Bitcoin will surpass Gold’s market capitalization by 20% in the coming year.
In 2025, Ether Will Be Worth More Than $5500
Galaxy Research also predicted that Ether will reach new all-time highs in 2025 when legislative barriers to DeFi and staking are loosened. With Ethereum and its ecosystem seeing the majority of use, new collaborations between DeFi and TradFi, possibly carried out under new regulatory sandbox conditions, would finally enable traditional capital markets to engage in serious public blockchain experimentation.
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Total AUM of the US Spot Bitcoin ETPs Will Surpass $250 Billion
Together, the Bitcoin ETPs received over $36 billion in net inflows in 2024, making them the most successful ETP launch cohort in history.
According to 13F filings, the State of Wisconsin Investment Board (SWIB) purchased a position in the Bitcoin ETPs, while several of the largest hedge funds in the world, such as Millennium, Tudor, and D.E. Shaw, also purchased them.
The Bitcoin ETPs are barely 19% ($24 billion) away from surpassing the total assets under management (AUM) of all physical gold ETPs in the United States after just one year.
Bitcoin Miners To Likely Strike Deals With AI Firms or Hyperscalers
Over 50% of the top 20 Bitcoin miners by market capitalization that are publicly traded will either declare their move to hyperscalers, AI, or high-performance computing companies, or develop alliances with them.
As the need for AI-derived computation grows, Bitcoin miners will be more likely to construct, refit, or co-locate HPC infrastructure with their mines. This would restrict the YoY hashrate growth, which is expected to reach 1.1 zetahash by 2025.
Digital assets Will Be Held by the Top Four Custodial Banks in the World by 2025
BNY, State Street, JPMorgan Chase, and Citi are the top four custody banks in the world that will provide digital asset services after the Office of the Comptroller of the Currency (OCC) opens a channel for national banks to do so, per Galaxy Research.
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