Here is an overview of the standout developments from 2024 and how they might impact the industry this year:
Eleven New Spot Bitcoin ETFs Approved
In a breakthrough widely viewed as opening the gates for mainstream adoption of digital assets, the U.S. Securities and Exchange Commission greenlit 11 spot Bitcoin exchange-traded funds. Industry titans including BlackRock, Ark Investments/21Shares, Fidelity, Invesco, and VanEck secured approvals. Trading began on Jan. 11, with initial inflows surpassing expectations.
Market participants say this ETF stamp of approval has set a new benchmark for regulatory clarity, potentially spurring further institutional demand for cryptocurrency in 2025. The launch also paved the way for subsequent derivatives products, driving increased liquidity and hedging opportunities on Wall Street.
BlackRock’s gold ETF, a trailblazer in the world of commodity-based funds, spent two decades building up an impressive $33 billion in assets under management (AUM), cementing its role as a go-to option for traditional investors seeking exposure to gold. Yet, the firm’s Bitcoin ETF is reshaping the narrative at a staggering pace.
In less than a year, this crypto-focused fund has amassed nearly twice the AUM of its long-established gold sibling, signaling a seismic shift in institutional interest toward digital assets. The rapid rise of Bitcoin as a hedge and store of value is now directly challenging gold’s status as the reigning safe-haven asset, marking a significant turning point in modern investing.
Source: X
Empire State Building Rolls Out NFT Rewards
Amid the January buzz around digital collectibles, the Empire State Building entered the fray with an NFT-based Ambassador Program. New sign-ups receive a unique NFT, and participants who progress through higher tiers can claim customized digital collectibles. Industry experts cite this move as evidence that commercial real estate and tourism entities are embracing blockchain technology to expand customer engagement—a trend they predict could mature in 2025 as more landmark institutions explore similar NFT reward structures.
Biden Orders Closure of Chinese-Backed Bitcoin Mine
President Joe Biden directed the shutdown and sale of land hosting a Chinese-backed crypto mining operation near Wyoming’s Francis E. Warren Air Force Base, citing national security concerns. The mining facility, run by MineOne Partners Ltd. with partial Chinese investment, was instructed to dismantle key equipment.
Washington insiders note that this move illustrates how geopolitics and cryptocurrency are increasingly intertwined. With additional tariffs looming on Chinese-made tech products, observers anticipate 2025 could see further restrictions on foreign-owned crypto ventures.
Crypto Hacks Under Scrutiny
A Crystal Intelligence report in mid-2024 revealed that 785 hacks had compromised nearly $19 billion worth of digital assets since 2011. The biggest single breach remains the 2019 Plus Token attack, valued at $2.9 billion. More recently, a $290 million security breach on PlayDapp in February 2024 shook decentralized finance operators.
Experts warn that cybersecurity risks may intensify as cryptocurrencies gain traction in traditional markets. Tighter protocols and improved threat intelligence in 2025 could be essential to maintaining user trust.
Donald Trump’s Campaign Raises Over $4 Million in Crypto
In an unprecedented display of digital currency’s growing political clout, former President Donald Trump’s fundraising committee disclosed more than $4 million in crypto contributions from April to June. Federal Election Commission filings highlighted donations of bitcoin, ether, XRP, stablecoins, and various meme tokens.
Crypto analysts suggest 2025 could see broader acceptance of digital assets in campaign finance, fueling debates over transparency and regulation. Trump’s pro-crypto rhetoric—pledging to make the United States “the crypto capital of the planet”—further indicates a policy climate that might ease regulatory headwinds for digital assets next year.
Italy’s Finance Minister Defends Crypto Tax Hike
Giancarlo Giorgetti, Italy’s finance minister, faced criticism from his own party for proposing higher taxes on cryptocurrency gains in the 2025 budget. He responded by highlighting the speculative nature of many digital tokens, contrasting them with “investments that support real-world projects.”
The Italian government’s stance underscores a broader European debate on how to classify and tax digital assets. Market watchers predict that 2025 will bring new or expanded tax frameworks across multiple EU member states, affecting trading volumes and corporate strategy.
Wall Street Embraces Spot Bitcoin Products
Throughout 2024, major financial institutions stepped up their crypto involvement, with the SEC’s approval of spot Bitcoin ETFs igniting fresh interest. By December, the first cash-settled Bitcoin ETF options debuted on the New York Stock Exchange and Nasdaq, while CBOE Global Markets plans to launch its own derivatives in early 2025.
Analysts say Wall Street’s evolving repertoire—ranging from leveraged trades to structured products—could elevate Bitcoin and other large-cap cryptos as standard risk assets, potentially driving further mainstream adoption next year.
Dogecoin Network Exploited
Meme-currency favorite Dogecoin suffered a notable disruption when a hacker—identified as a blockchain researcher—took advantage of a vulnerability to crash 69% of the network’s nodes. Although Dogecoin partially recovered, sustaining 315 active nodes post-attack, experts cautioned that the incident highlighted broader security vulnerabilities in cryptocurrency ecosystems.
Industry observers believe network hardening, node governance, and cross-chain rescue mechanisms will take center stage in 2025 to mitigate similar assaults on popular blockchains.
Crypto Fuels Soaring Tech Stocks
A surge in spot Bitcoin ETF volumes and post-election optimism propelled crypto-linked equities to the top of the U.S. stock market leaderboard in 2024. Donald Trump’s election win further boosted investor sentiment, as companies like MicroStrategy and crypto mining operators saw sharp gains.
Heading into 2025, analysts expect renewed capital inflows into both crypto and related tech shares—particularly if the new administration implements promised pro-crypto policies.
Bitcoin’s Record-Breaking Climb
After surpassing $70,000 in March, Bitcoin rose above $100,000 in early December—driven by the wave of spot ETFs, institutional inflows, and heightened retail participation. The milestone exemplified crypto’s “coming of age” moment after a volatile decade. Still, regulatory uncertainty, macroeconomic pressures, and market swings could play out unpredictably in 2025.
Montenegro Extradites Terraform Labs Founder
Montenegro extradited Do Kwon, founder of Terraform Labs, to the United States to face charges of fraud related to the $40 billion collapse of digital tokens Luna and TerraUSD in 2022.
The protracted legal saga caught the crypto world’s attention and reinvigorated calls for investor protections. Court decisions in 2025 could set precedents for how cross-border crypto fraud is policed.
Meta Expands NFT Integration
Instagram’s broader rollout of digital collectible (NFT) features to 100 additional countries underscored Big Tech’s continued push into blockchain-based offerings. By linking Ethereum, Polygon, and Flow wallets, Meta enabled millions of users to share, trade, or showcase their digital collectibles. The social media giant’s expansion signals further mainstream acceptance of NFTs, possibly fueling new revenue streams and user engagement strategies in 2025.
Outlook for 2025
Economists and blockchain developers see 2024’s milestones—ranging from regulatory breakthroughs to platform failures—as stepping stones for the year ahead. With spot Bitcoin ETFs in place and heightened interest from major governments, the cryptocurrency industry appears poised for broader institutional engagement. Still, security breaches and evolving tax frameworks highlight risks that remain unresolved.
Observers say 2025 could usher in more clarity around digital asset custody, broader adoption of NFTs in corporate loyalty programs, and deeper integration of blockchain solutions in global finance. Whether these changes amount to sustainable growth or introduce new volatility may hinge on how governments and industry participants navigate an increasingly interconnected crypto landscape.
Source: https://bravenewcoin.com/insights/cryptos-defining-year-2024-milestones-set-the-course-for-2025