The article discusses various key developments and questions in the crypto industry for the year 2025. These include the potential launch of US funds holding crypto assets other than Bitcoin and Ethereum, the adoption of BTC and ETH offerings by major institutions, the possibility of Vanguard changing its stance on crypto, and the potential launch of a spot crypto ETF by Schwab. The article also mentions the nomination of Paul Atkins as SEC chair under the Trump administration and the establishment of a US Bitcoin reserve. Progress around FIT21 and US stablecoin legislation is also mentioned, as well as the potential for more crypto firms to go public. The dominance of BlackRock in the spot crypto ETF space and the growth of the tokenization segment are discussed as well. Overall, the article suggests that 2025 will be a crucial year for determining the trajectory of the crypto industry.



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