2025 New Opportunities in Crypto Investment: Dual Choices of Stocks and IPOs

Starting with the SEC approval of the spot BTC ETF

January 2024 marks a turning point in the crypto market. The announcement that the U.S. Securities and Exchange Commission(SEC) approved a spot Bitcoin ETF immediately bridged the gap between traditional finance and digital assets. This moment signifies an upgraded recognition of the crypto ecosystem by mainstream capital and opens new avenues for investor participation.

Although cryptocurrencies themselves are currently difficult to directly access through global traditional stock markets, savvy investors have found workarounds—by investing in crypto-related stocks. These companies, while not entirely within the crypto space, are deeply involved in digital assets and blockchain ecosystems. Companies like PayPal and MicroStrategy hold large amounts of crypto assets; Robinhood and SoFi build bridges between traditional investing and digital assets; and tech giants like NVIDIA and Tesla, due to their close ties to the crypto market, have become focal points for investors.

Additionally, upcoming IPOs of crypto-related companies provide traditional investors with direct channels to participate in blockchain growth potential—without the risks associated with direct digital asset holdings.

Why crypto-related stocks and IPOs are worth including in your portfolio

Compared to the complexities and security concerns of directly purchasing cryptocurrencies, investing in crypto-related stocks offers a safer, more mainstream entry point. Listed companies like PayPal and Block have established strong moats in their respective fields, and their ties to the crypto market allow investors to gain indirect exposure to this high-growth sector.

The core of this win-win situation is: you can participate in the financial benefits of crypto prosperity while hedging risks through the relative stability of traditional listed companies.

Listed crypto-related stocks matrix

Robinhood(HOOD): The Vanguard of Financial Democratization

Launched in July 2021, Robinhood Markets has a clear mission—to democratize finance. Its platform offers trading of stocks, ETFs, options, and crypto assets, with 2023 revenue reaching $1.87 billion. Its stock price fluctuated between $7.91 and $19.42, reflecting its high-risk, high-reward nature.

Robinhood’s connection to the crypto market is almost self-evident—by 2021, it had become synonymous with crypto trading. The trading performance of assets like Bitcoin on its platform directly drives HOOD’s stock price and resonates with the overall crypto sentiment cycle.

PayPal(PYPL): Payment giant’s crypto strategy

Founded in 2002, PayPal has become a digital payments empire. In 2023, its revenue reached $29.77 billion (up 8.19% YoY), with net income of $4.25 billion. Its stock price fluctuates between $50.25 and $77.95.

Its key competitive advantage lies in allowing users to buy, hold, and sell multiple cryptocurrencies directly from their PayPal accounts. Moreover, the launch of its stablecoin PayPal USD(PYUSD) institutionalizes its relationship with the crypto market. These initiatives make its platform’s trading volume highly correlated with crypto market trends.

Block(SQ): The all-round fintech player

Block Inc.(, formerly Square), went public in 2015 and now has a market cap of $51.77 billion. As an integrated payments and financial services company, its Cash App platform has become a major channel for crypto trading.

Notably, Block’s strategic investment in Bitcoin (about 1% of total assets) demonstrates long-term confidence in digital gold. This direct exposure to BTC causes its stock performance to closely track Bitcoin’s price movements.

MicroStrategy(MSTR): The BTC accumulation exemplar

Founded in 1998, with a market cap of $26.24 billion in 2023, MicroStrategy has become a benchmark for corporate Bitcoin holdings. Its stock price swings dramatically between $230.72 and $1,815.00, fully reflecting its aggressive crypto investment strategy.

MicroStrategy has turned its corporate balance sheet into a massive Bitcoin wallet. This direct financial exposure effectively makes its stock a “listed Bitcoin”—highly volatile but with enormous potential returns.

SoFi Technologies(SOFI): The fintech newcomer

Listed via SPAC in 2021, SoFi has grown into a diversified financial platform, with 2023 revenue of $2.12 billion (up 34.91% YoY). Its three main business segments—lending, tech platform, and financial services—offer users comprehensive financial solutions across their lifecycle.

Its crypto trading feature directly links SoFi’s platform activity with crypto market heat. Fluctuations in user interest in digital assets are immediately reflected in SoFi’s trading volume and engagement metrics.

( Coinbase)COIN###: The flagship of crypto trading IPOs

Coinbase Global, which went public via direct listing in April 2021, is the infrastructure backbone of the U.S. crypto economy. Its market cap has reached $62.24 billion, with 12-month revenue of $3.11 billion and net income of $94.75 million.

As a pure crypto exchange, COIN’s stock price has the most direct relationship with the crypto market—any movement in trading volume or overall health is immediately reflected in its financials. Analysts rate it as a “buy,” with a 52-week price range of $46.43–$276.38, highlighting the high volatility and opportunity in crypto-related investments.

( Marathon Digital)MARA###: North America’s Bitcoin mining leader

Formerly Marathon Patent Group, Marathon Digital Holdings is North America’s largest sustainable Bitcoin mining enterprise. By processing BTC transactions and generating new coins, it transforms energy into economic value.

Its latest strategic move includes acquiring a 200 MW mining data center near wind farms, demonstrating expansion ambitions. Mining profitability correlates positively with Bitcoin’s price, causing MARA’s stock to tightly couple with BTC’s price movements.

( Tesla)TSLA###: The intersection of green energy and digital assets

Founded in 2010, Tesla has become a giant in clean energy and electric vehicles, with 2023 revenue of $96.77 billion (up 18.80% YoY). Its market cap reached $559.44 billion, with a 52-week price range of $152.37–$299.29.

Although Tesla previously invested in Bitcoin and accepted it as payment, it partially withdrew due to environmental concerns. These decisions reflect its indirect but real connection to the crypto market.

( NVIDIA)NVDA(: The computing hub for AI and mining

Founded in 1999, NVIDIA has become a pioneer in graphics processing technology. In 2023, revenue hit $60.92 billion (up 125.85% YoY), with net profit of $29.76 billion (up 581.32%).

Its GPU chips are widely used in crypto mining, establishing hardware-level links to the crypto market. More importantly, its dominance in AI influences the development of AI tokens within the crypto ecosystem.

) Metaplanet Inc.###: Japan’s new crypto pathway

Transitioning from a budget hotel operator to a Web3 explorer, Metaplanet has invested over $6 million in Bitcoin, supported by industry giants like Sora Ventures.

After announcing its BTC investment plan, its stock surged nearly 90%, adopting a strategy similar to U.S. companies like MicroStrategy—using crypto assets to hedge inflation and provide Japanese investors with a tax-efficient way to participate in the crypto market.

Outlook for 2025 IPOs: a new wave of crypto listings

( Reddit): Community tokens and mainstream integration

Reddit’s IPO was completed at a share price of $34, reaching a $5.4 billion valuation(fully diluted valuation close to $6.4 billion). Although below its 2021 valuation of $10 billion, it remains a significant event amid the volatile market of 2024.

Its crypto relevance is reflected in two aspects: first, plans to introduce Bitcoin, Ether, Polygon as payment options; second, the popularity of community tokens like MOON(r/CryptoCurrency) and BRICK###r/FortNiteBR###, which are ERC-20 tokens issued as rewards for user contributions, tradable and usable for memberships and governance voting. These demonstrate blockchain innovation’s practical application in community engagement.

( Telegram): The core engine of the TON ecosystem

Telegram is preparing for an IPO, with an estimated valuation of $3–$5 billion, planning to list on Nasdaq or Hong Kong Stock Exchange. Its deep connection to the crypto market stems from support for The Open Network(TON).

When Telegram confirmed support for Ton Network and made TON its preferred blockchain, its market cap jumped from $950 million to $1.55 billion within two days. This market reaction fully demonstrates Telegram’s profound influence on the crypto ecosystem. Currently, TON trades at $1.55, with a market cap of $379 million.

( Bitkub Online): Thailand’s crypto exchange IPO moment

Thailand’s leading crypto exchange, Bitkub Online, plans to IPO in 2025, with an estimated valuation of about 6 billion Thai Baht###(million). This move coincides with surging crypto trading demand in Thailand.

However, the company faces challenges from competitors and regulatory scrutiny. Nonetheless, its IPO plan reflects increased maturity in the regional crypto market.

Circle(: The stablecoin giant’s IPO dream

As the behind-the-scenes driver of USDC$165 , Circle has secretly filed for an IPO. Its current circulating market cap of $7.657 billion makes USDC a key liquidity and stability pillar in the crypto ecosystem.

Circle initially planned to go public via SPAC, merging with Concord Acquisition Corp in 2021 with a valuation of $900 million), but this was abandoned due to market volatility. Now, it is pursuing a traditional IPO, submitting a confidential S-1 draft to the SEC in January 2024.

Circle’s IPO could trigger crypto market volatility—since USDC’s liquidity is closely tied to major cryptocurrencies like Bitcoin###$88.80K( and Ethereum)$2.98K(. Any shifts in investor sentiment or regulatory environment could cause ripple effects.

) Blockchain.com(: Infrastructure-level key player

As a major player in crypto exchanges and blockchain explorers, Blockchain.com was valued at $14 billion in its latest Series D funding round, with plans for an IPO this year.

The platform has created over 82 million wallets, with 37 million verified users and over $1 trillion in transaction volume. Its public listing could cause market disruptions similar to Coinbase’s IPO, with far-reaching impacts on the entire ecosystem.

How to evaluate crypto-related investments: a framework

Assessing crypto-related stocks and IPOs requires multi-dimensional analysis:

Business model: Understand how the company makes money, its product/service positioning within the crypto ecosystem, and its competitive advantages.

Management capability: Evaluate the team’s background in crypto and traditional industries, and consider how local regulatory environments impact expansion.

Financial health: Analyze growth prospects, profitability, and financial stability; compare valuation with growth potential; assess competitive edges and threats from new entrants.

Technology and security: Review innovation capacity, past vulnerabilities, strategic partnerships, and ecosystem activity—these reflect long-term credibility.

Market sentiment and risks: Pay attention to short-term momentum and market mood, while emphasizing diversification and risk management amid volatility.

Conclusion

By 2025, the dual wave of crypto-related stocks and IPOs will offer traditional investors multiple channels to participate in digital asset growth. The key is thorough due diligence, clarifying each company’s crypto exposure, and adopting cautious risk management strategies. Whether investing in established companies like PayPal and MicroStrategy or seizing IPO opportunities like Circle and Blockchain.com, investors should always base decisions on independent research and professional advice.