Year of Crypto IPOs? Bitwise Predicts 2025 Market Trends

• Bitcoin could soar to $200K in 2025, driven by institutional adoption and ETF flows.
• Coinbase is forecasted to join the S&P 500 and surpass Charles Schwab in valuation.
• Stablecoin adoption and tokenized real-world assets are set to double, reshaping global finance.

The crypto market could be on the verge of a historic transformation, according to a new set of predictions released by Bitwise, a leading digital asset manager. Ryan Rasmussen, Head of Research at Bitwise, shared ten ambitious forecasts for 2025. They are projecting all-time highs for Bitcoin, Ethereum, and Solana, a surge in stablecoin adoption, and a wave of crypto IPOs.

Bitcoin Targets $200K as Institutional Adoption Grows

Bitwise expects Bitcoin to reach $200,000 by 2025, driven by increased corporate and government adoption, ETF inflows, and the impact of the 2024 halving.

With nine nations holding Bitcoin in their treasuries, Bitwise expects this number to double, potentially triggering a “Bitcoin arms race” among governments. Moreover, the launch of Bitcoin ETFs has already generated excitement, but Bitwise believes 2025 could see even higher inflows than 2024.

Ethereum and Solana Price Targets for 2025

Bitwise predicts Ethereum will hit $7,000, fueled by Layer-2 innovations, stablecoin expansion, and real-world asset tokenization. Meanwhile, Solana could climb to $750, driven by meme coins and its adoption for high-performance decentralized applications.

Coinbase to Join the S&P 500

Coinbase’s growth could make it the most valuable brokerage globally, surpassing Charles Schwab, with its stock predicted to reach $700. Bitwise attributes this to Coinbase’s booming stablecoin business, the growth of its Layer-2 network Base, and increased revenue from staking and custody services.

If Coinbase joins the S&P 500, it could attract $15 billion in institutional investments, according to Bitwise.

“Year of the Crypto IPO”

Bitwise predicts that 2025 will be the “Year of the Crypto IPO,” with at least five major crypto unicorns going public. These include the second-largest stablecoin issuer, Circle, crypto exchange Kraken, and analytic firm Chainalysis.

This could reignite venture capital interest in blockchain startups, creating more diverse investment opportunities.

AI Meme Coins to Redefine Mania

The emergence of AI agents like Clanker, which autonomously deploy tokens, could trigger a meme coin frenzy that surpasses 2024 levels. This innovation highlights the potential of AI to shape new market narratives. “We think AI-launched tokens will fuel a new memecoin boom in 2025,” Bitwise said.

Stablecoins to Hit $400 Billion in AUM

Furthermore, Bitwise argued stablecoin adoption will double in 2025. The firm projects a figure reaching $400 billion, supported by U.S. legislative clarity, global trade applications, and fintech integrations. 

Also, Bitwise forecasts that tokenized real-world assets will surpass $50 billion by next year. It expects institutional investors to drive this market to new heights. “In our opinion, Wall Street is just starting to catch on to tokenization,” Bitwise noted.

Moreover, Bitwise expects the U.S. Department of Labor to relax restrictions on crypto in 401(k) plans to unlock $80 billion in new capital. This move could integrate crypto into mainstream retirement planning, driving long-term market growth.

Beyond 2025: Bitcoin to Hit $1 Million

Bitwise closes with a bold prediction: Bitcoin could trade above $1 million by 2029, overtaking gold’s $18 trillion market cap. According to the firm, the financial market could see a $1 million Bitcoin price “a lot faster” with the U.S. implementing its proposed 1 million BTC strategic Bitcoin reserve.

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