The year 2025 is a key year for cryptocurrencies entering traditional investment portfolios. The launch of spot ETFs for Bitcoin and Ethereum has followed one after another, and the inflow of funds into ETFs in the U.S. market has rapidly climbed. As of August 11, it was reported that the total net inflow of crypto ETFs reached $29.4 billion, while BlackRock's iShares Bitcoin Trust (IBIT) has seen assets under management soar to $70 billion, indicating that institutions are entering a long-term strategic phase in their allocation to digital assets.
The SEC's approval of innovative ETF entry and redemption mechanisms (in-kind redemption) has improved operational efficiency, reduced costs, and lowered the participation threshold for institutions, similar to traditional ETFs.
In 2025, the U.S. passed the "GENIUS Act," allowing banks and financial institutions to issue stablecoins backed by high-quality assets (such as U.S. Treasury bonds), promoting the legitimization of stablecoins and enhancing regulatory transparency in the financial system.
Citigroup is considering entering the stablecoin and digital asset custody space and exploring the use of stablecoins to accelerate cross-border payment efficiency, reflecting the growing commercial interest of traditional banks in digital asset services.
With the increase in institutional investment demand, crypto prime brokers have become key players, providing trading, custody, lending, and risk management services. These services have attracted clients such as hedge funds and family offices, forming a new financial services ecosystem worth trillions of dollars.
Additionally, the Canton Network blockchain platform, developed jointly by financial institutions, is being used for secure, interoperable, and compliant transaction processes, and has been utilized by institutions in Europe and Singapore for the tokenization of government bonds, gold, and other physical assets, improving asset circulation efficiency and transparency.
The EU's MiCA (Markets in Crypto-Assets Regulation) will take effect at the end of 2024, making it the world's first comprehensive regulatory framework for crypto assets, allowing many crypto operators to legally provide services in Europe.
Furthermore, the research "Banking 2.0: The Stablecoin Banking Revolution" indicates that stablecoins may lead to significant changes in the financial industry, improving settlement speed, reducing fraud risk, and enhancing global liquidity, becoming a key factor in strengthening the existing financial system.
The application of digital assets in corporate treasury management is also spreading. Several companies have incorporated Bitcoin into their balance sheets as a strategic reserve asset, mimicking the MicroStrategy model. This move not only enhances the value retention of digital assets but also introduces a new asset type into traditional financial strategies.
Moreover, analytical studies show that the correlation between Bitcoin and financial markets such as the S&P 500 and Nasdaq peaked in 2024 (with a correlation coefficient as high as 0.87), indicating that an increasing number of institutions view it as part of macro assets rather than merely a speculative tool.
Overall, the entry of cryptocurrencies into the mainstream financial stage has become a foregone conclusion, specifically reflected in several key areas:
- ETFs are becoming the mainstream entry point for institutions to allocate crypto assets, while improvements in trading efficiency and legal frameworks further lower participation thresholds;
- Stablecoins are being actively integrated by banks and payment platforms, with the potential to become international settlement tools;
- Professional financial services (such as prime brokers and blockchain networks) have increased the security and compliance of digital asset applications;
- Policy regulation is gradually improving, especially in the EU and the U.S., putting the market on a more robust growth track;
However, attention must still be paid to challenges such as technological risks, regulatory changes, and uncertainties in capital market fluctuations.
In the future, investors and financial institutions should focus on ETF signals, the advancement of stablecoin policies, the development of blockchain-integrated platforms, and changes in regulatory trends to seize the opportunities and trends of the integration of digital assets and traditional finance.
Related: Raoul Pal: The crypto market will peak in the first quarter of 2026 and is currently in a "waiting room" phase.
Original text: “Cryptocurrencies Enter Mainstream Finance: Trends in ETFs, Stablecoins, and Institutional Applications”
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