By 2025, investment institutions have invested nearly $25 billion in encryption companies, far exceeding market expectations.

On November 29, according to DL News, investment institutions have poured nearly $25 billion into crypto companies in 2025, exceeding last year's scale by over 150%, far surpassing market expectations. This year's leading institutions participating in the transactions include tech-focused Paradigm and Sequoia Capital, as well as Wall Street giants BlackRock, JPMorgan, and Goldman Sachs. According to DefiLlama data, the hottest sectors are: centralized trading platforms (raising $4.4 billion), prediction markets (raising $3.2 billion), and DeFi platforms (raising $2.9 billion). Jordan Knecht, Head of Institutional Strategy at blockchain service company GlobalStake, pointed out: “Projects attracting capital currently need to comply with regulatory transparency, operational resilience, and be able to connect with traditional financial institutions and their standards. In a volatile market, investors prefer to establish compliance-first sustainable business models to lay a long-term foundation for asset classes.” Charles Chong, Strategic Vice President of crypto-native consulting firm BlockSpaceForce, stated: “The environment for crypto startups is changing, with funds flowing to mature players whose revenue and unit economic models can support valuations. This is not a sign of market weakness, but rather a manifestation of market normalization and maturation, with financing behavior becoming more rational, focusing on fundamentals, and less driven by reflexive speculation.” Georgii Verbitskii, founder of crypto investment company TYMIO, believes: “The crypto market follows the same rules as other technology cycles—capital is always injected into underlying infrastructure first, and then flows to consumer-facing applications.”