Crypto Market Review (Q1 2025)
San Francisco • Apr 16, 2025
Q1 2025 can be summed up in one word: frustrating. The first pro-crypto president took office—and crypto prices dropped sharply.
So, where does crypto go from here?
Our latest quarterly report aims to provide some answers. While prices disappointed, several areas showed impressive momentum:
Stablecoin AUM surged to an all-time high of over $218 billion, up more than 13% quarter-over-quarter.
Tokenized real-world assets went parabolic in Q1, growing 37% quarter-over-quarter to a new all-time high.
Regulated bitcoin futures trading volume and open interest also hit record highs, suggesting growing institutional interest in crypto as a macro trading asset.
For an in-depth look at these Q1 developments and a glimpse into what’s next, check out the latest Bitwise Crypto Market Review—featuring over 60 charts and tables.
Download the Full Report
Access this report for key data points that shaped crypto markets in recent months.
Bitwise Asset Management is a global crypto asset manager with more than $15 billion in client assets and a suite of over 30 crypto investment products spanning ETFs, separately managed accounts, private funds, hedge fund strategies, and staking. The firm has an eight-year track record and today serves more than 4,000 private wealth teams, RIAs, family offices and institutional investors as well as 15 banks and broker-dealers. The Bitwise team of over 125 technology and investment professionals is backed by leading institutional investors and has offices in San Francisco, New York, and London.
