The adoption of cryptocurrencies in 2025 is expected to be largely driven by stablecoins and exchange-traded funds (ETFs) for digital assets, according to Citi Research, the research division of the leading financial institution Citi. After Bitcoin reached the milestone of $108,000 earlier this month, the firm expects improved results next year.

In its analysis, Citi Research noted that 2024 has been exciting for cryptocurrencies, as the total market capitalization of digital assets grew by 90%, peaking at $3.73 trillion. Additionally, the firm noted that the exponential growth was also driven by the influx of funds from Bitcoin and Ethereum spot ETFs, which were approved earlier this year by the U.S. Securities and Exchange Commission (SEC).