According to TechFlow news from Deep Tide, on July 1, a recent report from 10x Research shows that crypto-related stocks have risen by 119% this year, outperforming Bitcoin and almost all major asset classes. Wall Street is actively supporting a new wave of digital asset companies, with over $100 billion in crypto-related IPOs expected to enter the public market by 2025.
The market capitalization of crypto payment company Circle has reached $41 billion, with a stock price of about $180, far exceeding the $80 target set by analysts at JPMorgan and Goldman Sachs. The market in 2024 will focus on Bitcoin ETF fund inflows, while 2025 may become the 'Year of Crypto Stocks'.
Apart from companies about to go public, already listed crypto-related stocks such as Coinbase, Galaxy, MicroStrategy, etc. will also benefit. Currently, 30% of Robinhood's revenue comes from crypto business, and this proportion may further increase as it launches tokenized stocks in Europe.
Analysts believe that as Wall Street begins to cover and promote these crypto stocks, they will gradually become part of institutional portfolios and may even form a new sector within the S&P 500 index.
