Zach Pandl, managing director of research at Grayscale, predicts that while 2024 saw two significant wins for the crypto industry, including spot crypto exchange-traded funds and Donald Trump's election win, 2025 will bring numerous smaller victories. He anticipates heightened interest from institutional investors, especially pension and endowment fund managers, who have historically avoided the crypto space. According to Pandl, some of these institutions are currently exploring crypto allocations of up to 5% in their portfolios, with concrete approvals potentially within the next year. Additionally, Pandl expects that sovereign wealth funds outside the US will also begin to increase their crypto exposure. He highlighted the potential of Bitcoin to become a US reserve asset and emphasized the growing interest in Ethereum and decentralized finance as attractive areas for institutional investment.

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