10x Research: Crypto Stocks Up 119% This Year, Wall Street Driving Trillion-Dollar IPO Wave
Powered by ChatGPTOn July 1st, according to the latest report from 10x Research, cryptocurrency-related stocks have risen 119% year-to-date, outperforming Bitcoin and almost all major asset classes. Wall Street is actively supporting a new wave of digital asset companies, and it is expected that over $100.00 billion in crypto-related IPOs will enter the public market in 2025.
The market cap of crypto payment company Circle has reached $41.00 billion, with a share price of approximately $180.00, far exceeding the $80.00 target price set by analysts at JPMorgan Chase and Goldman Sachs. While the theme of the market in 2024 is Bitcoin ETF inflows, 2025 may become the "year of crypto stocks."
In addition to companies about to IPO, listed crypto-related stocks such as Coinbase, Galaxy, and MicroStrategy will also benefit. Currently, 30% of Robinhood's revenue comes from its crypto business, and this percentage may increase further 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 completely new sector in the S\&P 500 index. [深潮 TechFlow]