Analysts at State Street forecast that crypto exchange-traded funds (ETFs) will surpass precious metals by the end of 2025, making it the third-largest ETF asset class in the US, behind equities and bonds. According to a Financial Times report dated March 3, 2025, Frank Koudelka stated, “We have been very surprised by the speed of growth of crypto.”
— Translation: We are surprised at how quickly the crypto market is growing.
Koudelka noted that he expected some demand but not this much, stating, “The data is showing more advisers are interested in cryptocurrencies as part of their portfolios.”
— Translation: More financial advisers are looking to include cryptocurrencies in their investment plans.
The State Street report also indicated that towards the end of 2025, spot crypto products will expand to cover the top 10 coins based on market cap.

Key Insights

• As of late February 2025, there are 39 crypto ETFs with about $100 billion in assets.
• BlackRock and Fidelity have emerged as key players, with holdings of over $57 billion and $20 billion, respectively.
• State Street anticipates significant regulatory developments that could further boost the growth of crypto ETFs.
• Analysts project that the European ETF market will grow by at least 25%, surpassing $2.8 trillion in assets.

For more insights, explore the Best New Cryptocurrencies and the 10 Coins with High Returns you can invest in for 2025.