Stablecoin on TradFi, China, Europe to Track US With Bitcoin Reserve: Wintermute 2025 Predictions
Crypto will become more deeply integrated into traditional finance (TradFi) through exchange-traded funds (ETFs) and corporate holdings this year, according to crypto-trading firm Wintermute.
In addition, a major corporate event such as an acquisition or merger will be paid for in stablecoins, the market maker and liquidity provider told annual review and outlook.
Among its other forecasts:
- The US will begin consultations to create a strategic bitcoin reserve, with China, the UAE and Europe following suit.
- A publicly listed company will sell debt or shares to buy ether (ETH), mimicking MicroStrategy’s (MSTR) bitcoin acquisition policy.
- A systemically important bank will offer spot cryptocurrency trading to clients.
The predictions follow huge demand growth last year, which saw over-the-counter (OTC) institutional trading volume more than triple following last January’s approval of bitcoin (BTC) ETFs and the arrival of ether (ETH) ETFs. The report attributes the interest to improved regulatory clarity and demand for capital-efficient trading. Average OTC trade size increased by 17% and total volume by 313%, it said.
Derivatives volumes grew by more than 300%, driven by institutions seeking more sophisticated yield and risk management instruments. In spot trading, Wintermute noted a record-breaking single-day OTC volume of $2.24 billion, surpassing the 2023 weekly record of $2 billion.
Transferring Asset Preferences
Memecoins are one of the success stories of 2024, seeing their market share more than double to 16%. This is primarily driven in the Solana ecosystem by tokens such as dogwifhat (WIF), bonk (BONK) and ponke (PONKE), although ether continues to dominate.
“We saw record-breaking growth driven by demand for sophisticated products such as CFDs and options, reflecting a maturing market that increasingly mirrors traditional finance,” CEO Evgeny Gaevoy said in the report . “We expect greater momentum as crypto integrates deeper into the global financial infrastructure through ETFs, corporate holdings, tokenization, and the rise of structured products.”
