As we move further into 2025, the cryptocurrency landscape is set to undergo significant transformations. Leading crypto-trading firm Wintermute predicts that this year will see a deeper integration of cryptocurrency into traditional finance (TradFi), particularly through the rise of exchange-traded funds (ETFs) and corporate holdings.
According to Wintermute’s annual review and outlook, an intriguing forecast suggests that substantial corporate events, such as mergers or acquisitions, may soon be settled in stablecoins. This shift signifies an important step towards normalizing the usage of digital currencies in conventional business transactions.
In addition to these predictions, Wintermute anticipates that the United States will initiate consultations to establish a strategic bitcoin reserve, a move that could have significant implications for the cryptocurrency’s role on the global stage. Other regions, including China, the UAE, and Europe, are expected to follow suit in the pursuit of similar strategies.
Furthermore, the report maintains that we may witness a publicly listed company following in the footsteps of MicroStrategy by issuing debt or shares to invest in ether (ETH). This would not only resemble MicroStrategy’s bitcoin acquisition strategy but also represent a notable shift in corporate asset preferences.
Moreover, the report highlights an important trend: a systemically important bank is projected to offer spot cryptocurrency trading to clients. This point emphasizes the increasing relevance of cryptocurrency within established financial systems.
These insights come on the heels of substantial demand growth observed in the previous year. Over-the-counter (OTC) institutional trading volumes have reportedly more than tripled since the approval of bitcoin (BTC) ETFs in January, closely followed by ether (ETH) ETFs. The report attributes this surge in interest to enhanced regulatory clarity and a growing appetite for capital-efficient trading solutions.
Specifically, OTC trade sizes increased by 17%, while total volume skyrocketed by 313%. Additionally, derivatives trading volumes also saw remarkable growth of over 300%, driven by institutions seeking sophisticated yield and risk management instruments. Notably, Wintermute recorded a singular day of OTC trading that reached a staggering $2.24 billion, eclipsing the previous weekly high of $2 billion from 2023.
Shift in Asset Preferences
In 2024, memecoins stood out as a significant success story, with their market share more than doubling to 16%. This surge was primarily fueled by tokens within the Solana ecosystem, such as dogwifhat (WIF), bonk (BONK), and ponke (PONKE), although ether’s dominance remains unchallenged.
CEO Evgeny Gaevoy emphasized the continued momentum of the market, noting, “We saw record-breaking growth driven by demand for sophisticated products like CFDs and options, reflecting a maturing market that increasingly mirrors traditional finance. We anticipate even greater momentum as crypto integrates deeper into global financial infrastructure through ETFs, corporate holdings, tokenization, and the rise of structured products.”
