PANews reported on January 17 that according to Cointelegraph, Grayscale Research Director Zach Pandl said that following the two "major victories" of the approval of spot crypto ETFs and Trump's election victory last year, the crypto industry is expected to have more "dozens of small victories" in 2025. He pointed out that the participation of institutional investors will continue to increase, including pension funds and endowment funds, and some funds may be officially approved to allocate crypto assets within 6 to 12 months, with an allocation ratio of up to 5%.

In addition, Pandl expects sovereign wealth funds outside the United States to increase their allocation to cryptocurrencies, emphasizing that Ethereum may be one of the most important open source software projects in history, while decentralized finance (DeFi), real-world assets and artificial intelligence tokens may attract more attention from private funds.