In 2025, cryptocurrencies will finally go beyond the status of a high-risk asset. The market of digital currencies forms a new financial landscape: from strategic reserves to regulated ETFs, from decentralized financing to international geopolitics. According to financial analyst Chaslau Koniukh, we are on the threshold of a new stage of financial evolution: “Cryptocurrency is no longer exotic. This is part of the big game. The first to set the rules will get an advantage.”
The Rise of ETFs and Institutional Adoption
In general, 2024 opened a new era: after long battles with regulators in the USA, it was officially allowed to launch spot ETFs based on Bitcoin, and later – Ethereum. This led to a sharp increase in the interest of institutional investors. On the first day of the year, the trading volume exceeded $4.5 billion. By the end of the year, funds accumulated more than 6% of the entire BTC issue.
As of April 2025, the total capitalization of Bitcoin-ETF reached $75 billion, and according to some estimates, exceeded $80 billion. The largest positions are controlled by BlackRock, Fidelity and Grayscale. “In fact, we are seeing the creation of a digital ‘gold standard’. But instead of states – large funds. This changes the very concept of trust in finance,” Koniukh notes.
Altcoins and Financial Integration
The launch of ETFs based on Ethereum, Ripple and Solana also changed the rules of the game for altcoins (any cryptocurrency that came after Bitcoin). And although these instruments have not yet reached such a level of liquidity as BTC, the trend is obvious: cryptocurrencies are increasingly integrated into traditional financial structures.
Political Impulse: Trump and the Strategic Reserve
The main surprise was the political factor. In November 2024, Donald Trump won the presidential elections in the USA. His rhetoric regarding digital assets was as positive as possible: support of the crypto community, a promise to replace the leadership of the SEC, the creation of the position of “crypto emperor”.
After the inauguration, officials who openly own cryptocurrencies were appointed to the Trump Administration. The loudest recent initiative of the White House is the discussion of the creation of the state strategic BTC reserve. “This is a signal for the entire market: the US can legitimize Bitcoin as an element of the national financial strategy. If this happens, a new ‘bullish’ cycle awaits us,” Chaslau Koniukh believes.
Against this background, bitcoin renewed its historical maximum of $106,000 already in December 2024. At the beginning of 2025, the exchange rate consolidated in the range of $95,000-100,000 in anticipation of the next wave of growth.
Halving and Cycles: Why 2025 is Pivotal
In April 2024, the fourth Bitcoin halving in history took place – an algorithmic reduction of the reward to miners. This reduces emission rates and, according to historical observations, starts a new phase of growth that lasts up to 500 days.
Previous halvings (2012, 2016, 2020) led to a record increase in the value of Bitcoin an hour after the event. Galaxy Research, CryptoQuant and CoinMarketCap analysts point to mid-2025 as the peak of this cycle. According to various estimates, BTC can reach $150,000-185,000 by October-December.
Koniukh adds: “This is not just a halving effect. We have a combination of factors: new money, new players, political will and a technological breakthrough. But the market also remembers cycles – that’s why caution is needed.”
Tokenization and Real-World Use
In addition, 2025 is also the hour of real use of the blockchain. Banks, corporations, and states are launching projects to tokenize assets: from bonds and gold to real estate and carbon credits (quotas for the permissible amount of emissions into the environment). JPMorgan, Citigroup, BlackRock are testing their own platforms for instant payments on the blockchain.
In the USA, Japan and the EU, tokenized assets are already integrated into pension programs and direct investment funds. According to BCG estimates, by 2030 the market volume of tokenized assets will exceed $16 trillion.
“We are on the brink of a major infrastructural change. The investor of the future will hold a fortune in real estate, shares and even water – not through paper, but through a smart contract,” Koniukh predicts.
The Role of Stablecoins and CBDCs
The market of stablecoins (the general name of cryptocurrencies, the exchange rate of which is trying to stabilize, tied to a real asset) is also experiencing a boom. Capitalization exceeded $200 billion, and it is expected to reach $400-450 billion by the end of the year. OTC trading tools, crypto cards and payment solutions for small businesses are gaining particular popularity.
At the same time, central bank digital currencies (CBDC) are being actively promoted. Testing of new assets through pilot projects continues in China, India, and Brazil. The USA is instead betting on private initiatives, in particular, tokenized deposits from banks.
According to Koniukh, these are parallel processes that mutually reinforce each other: “CBDC is infrastructure, stablecoins are dynamics. Together, they form a new financial reality, where money is a code, and trust is an algorithm.”
Ukraine’s Crypto Ambitions
Ukraine, despite the war, is not lagging behind. In 2025, legislation is actively being developed for the full launch of the crypto market. There are two visions of the process – from the National Commission on Securities and the Stock Market and the Ministry of Digital Transformation – which provide for different approaches to taxation and licensing.
Now a compromise option is being discussed: a rate of 10-18% for individuals, as well as the creation of a “sandbox” for fintech startups. The main thing is transparency and uniform rules of the game.
“Ukraine can become a regional crypto hub. We have a strong IT community, a high level of digital literacy, experience with ‘Diya’ (digital system of public services). But without clear rules, all this will remain in the shadows,” Koniukh emphasizes.
Cryptofinance as Evolution, Not a Trend
Cryptocurrencies in 2025 are not a fad, but a consequence of profound changes in the global economy. They reflect new requests for decentralization, speed, transparency and financial inclusion. The forecast of $150,000 for Bitcoin no longer seems like a fantasy, and the integration of tokens into corporate balance sheets is a logical step.
As Chaslau Koniukh says: “We no longer ask the question ‘Do we need cryptocurrencies?’ We learn to live with them, invest and not miss a chance.”
At the same time, 2025 is also a test of stability. The market is becoming more mature, but also more complex: competition is growing, regulatory pressure is increasing, and investors’ expectations are rising. Financial expert Chaslau Koniukh believes that cryptocurrencies have already become an integral part of global capital – and it is precisely now that a new elite of the digital economy is being formed.