Crypto markets are entering autumn 2025 with renewed conviction as WisdomTree research gains traction and Bitcoin strength underpins sentiment. After a turbulent start to the year—shaped by geopolitics, trade wars, and shifting macro narratives—digital assets are showing durable signs of strength. Bitcoin is holding near its all-time high above $119,000, institutional inflows are accelerating, and altcoins with real-world utility are carving out distinct roles. Beneath the price action, however, a deeper transformation is underway as market structure matures, regulation advances, and crypto embeds itself into the global economy. Outlining the tailwinds set to define this new chapter is Dovile Silenskyte, Director of Digital Assets Research at WisdomTree. Institutional Adoption Becomes Self-Reinforcing Crypto is now firmly in mainstream portfolios. Flows into Bitcoin exchange-traded products (ETPs) have reached $37 billion over the past year, pushing global AUM close to $148 billion. Public companies collectively hold nearly 5% of the circulating Bitcoin supply, while hedge fund activity has surged, with futures open interest at $45 billion and options at $43 billion. The UK’s Financial Conduct Authority has even opened the door for retail access to bitcoin ETPs. Macro Backdrop Favors Store-of-Value Assets With the U.S. deficit above 6% of GDP, debt surpassing $34 trillion, and de-dollarization gathering pace, investors are seeking alternatives to fiat. Bitcoin’s transparent, apolitical issuance makes it an attractive store-of-value. WisdomTree projects that Bitcoin could reach $250,000 by 2030 if monetary expansion persists. Altcoins Move Toward Real-Economy Utility Speculation-driven altcoin rallies have given way to use-case-driven adoption. Solana is gaining traction in consumer-facing applications, Ethereum remains the backbone for tokenisation and stablecoins, and XRP is proving itself in cross-border payments. Meanwhile, weaker projects are being repriced. 2025 has brought long-awaited regulatory milestones: the U.S. GENIUS Act has set out stablecoin rules, Europe’s MiCA regime is in effect, and hubs such as the UAE and Switzerland are offering regulated pathways for institutional adoption. Tokenization and DeFi 2.0 DeFi has rebounded, with $150 billion locked in lending and trading protocols. A $28 billion market for tokenized real-world assets is also emerging, encompassing everything from bonds to commodities. Stablecoins are cementing their role as a bridge between traditional finance and on-chain markets. These tailwinds—adoption, macro trends, utility, regulation, and tokenisation—are converging to embed crypto as a multi-trillion-dollar cornerstone of global finance. The question is no longer whether crypto survives, but how quickly it reshapes the financial systemCrypto markets are entering autumn 2025 with renewed conviction as WisdomTree research gains traction and Bitcoin strength underpins sentiment. After a turbulent start to the year—shaped by geopolitics, trade wars, and shifting macro narratives—digital assets are showing durable signs of strength. Bitcoin is holding near its all-time high above $119,000, institutional inflows are accelerating, and altcoins with real-world utility are carving out distinct roles. Beneath the price action, however, a deeper transformation is underway as market structure matures, regulation advances, and crypto embeds itself into the global economy. Outlining the tailwinds set to define this new chapter is Dovile Silenskyte, Director of Digital Assets Research at WisdomTree. Institutional Adoption Becomes Self-Reinforcing Crypto is now firmly in mainstream portfolios. Flows into Bitcoin exchange-traded products (ETPs) have reached $37 billion over the past year, pushing global AUM close to $148 billion. Public companies collectively hold nearly 5% of the circulating Bitcoin supply, while hedge fund activity has surged, with futures open interest at $45 billion and options at $43 billion. The UK’s Financial Conduct Authority has even opened the door for retail access to bitcoin ETPs. Macro Backdrop Favors Store-of-Value Assets With the U.S. deficit above 6% of GDP, debt surpassing $34 trillion, and de-dollarization gathering pace, investors are seeking alternatives to fiat. Bitcoin’s transparent, apolitical issuance makes it an attractive store-of-value. WisdomTree projects that Bitcoin could reach $250,000 by 2030 if monetary expansion persists. Altcoins Move Toward Real-Economy Utility Speculation-driven altcoin rallies have given way to use-case-driven adoption. Solana is gaining traction in consumer-facing applications, Ethereum remains the backbone for tokenisation and stablecoins, and XRP is proving itself in cross-border payments. Meanwhile, weaker projects are being repriced. 2025 has brought long-awaited regulatory milestones: the U.S. GENIUS Act has set out stablecoin rules, Europe’s MiCA regime is in effect, and hubs such as the UAE and Switzerland are offering regulated pathways for institutional adoption. Tokenization and DeFi 2.0 DeFi has rebounded, with $150 billion locked in lending and trading protocols. A $28 billion market for tokenized real-world assets is also emerging, encompassing everything from bonds to commodities. Stablecoins are cementing their role as a bridge between traditional finance and on-chain markets. These tailwinds—adoption, macro trends, utility, regulation, and tokenisation—are converging to embed crypto as a multi-trillion-dollar cornerstone of global finance. The question is no longer whether crypto survives, but how quickly it reshapes the financial system