2025 was a historic year for BTC & crypto mkts

Mumbai, Dec 23

2025 was a historic year for BTC and the crypto markets, marking the transition of crypto from an unorganized asset class to one recognized as an institutional asset class structurally integrated into global finance.

Talking to Bizz Buzz, “Pankaj Balani, CEO & C0-Founder, Delta Exchange says, “We saw several positive developments on the regulatory side, particularly in the U.S., including the GENIUS Act, CLARITY Act, regulators allowing U.S. banks to act as crypto intermediaries, and the SEC paving the way for tokenized stocks and bonds.”

Institutional demand for Bitcoin exposure remained buoyant, driving prices to an all-time high of approximately $126,300. Bitcoin and Ether ETFs, along with digital asset treasury companies, saw strong inflows, with institutional investors now holding close to 30% of the available Bitcoin supply. Rising institutional participation also spurred demand for risk management and hedging instruments such as futures and options, accelerating growth in the derivatives market.

The last quarter has seen extreme volatility, with BTC correcting nearly 30% as concerns over rising inflation and unemployment in the U.S. weighed on markets. On October 10th, Bitcoin experienced a cascading decline as large-scale leveraged positions were capitulated. This sharp volatility underscores the need for a vibrant derivatives market that can offer hedging solutions to investors to protect against sharp volatility in these assets. With institutions now holding roughly a third of Bitcoin supply, they are increasingly emerging as the dominant participants in the global crypto derivatives market.

Against this backdrop, at Delta Exchange, we are building products aligned with the next phase of crypto market evolution. As participation scales and demand for derivatives and risk management products grows, we aim to enhance our offering through advanced features for market makers, an algo-strategy marketplace enabling one-click strategy subscriptions, and an AI Copilot to help strategy creators rapidly build and back-test trading strategies thereby furthering our mission of building an innovation-led trading ecosystem with a strong emphasis on disciplined and responsible trading."

Nischal Shetty, Founder, WazirX says, “Looking back at 2025, the crypto industry paints a mixed but hopeful picture. On one hand, the industry saw real progress: growth in DeFi projects, expansion of stablecoins, new CBDC-infrastructure pilots, and rising developer activity across APAC and globally, with millions committing to code on-chain.”

On the other hand, after early-year optimism from retail investors, the October correction was a reminder that sentiment remains fragile and that hype without real delivery can still hurt the industry.

Institutional shifts and policy signals, however, brought meaningful momentum. Vanguard reversed its long-standing prohibition on crypto, opening its platform to Bitcoin, Ethereum, XRP, and Solana ETFs, triggering a surge in mainstream adoption. The CFTC’s approval of spot crypto ETFs added another boost, reflecting a steady move toward giving traditional financial investors regulated crypto exposure. Firms like BlackRock continued their disciplined investment push into digital assets.

Looking ahead to 2026, there might be reason for optimism just yet. In India, the foundation stone of the CBDC project could be laid soon. The RBI has announced a hackathon in October to nurture tech talents in the emerging technology space, which will encourage more Indians to see emerging tech as a promising career prospect. A clearer regulatory framework for VDAs, potentially paired with supportive tax measures, support for stablecoin initiatives alongside CBDC measures, could unlock real-world blockchain use cases from Indian builders to kickstart on-chain growth for Indians.

So, while 2025 wasn’t a clean breakout year, it was undeniably transformative. Infrastructure matured, institutional participation widened, and policy debates sharpened worldwide.

In 2026, globally, institutional appetite for regulated digital-asset products will continue to increase, driving capital inflows and contributing to market stability. At the same time, domestic policies for countries will be key in shaping their respective investor sentiment.”

Raj Karkara, COO, ZebPay says, “2025 has shaped up to be a landmark year for crypto, a year where digital assets moved decisively from niche innovation toward foundational financial infrastructure.”

The start of the year saw the establishment of the U.S. Strategic Bitcoin Reserve, a bold signal of Bitcoin’s growing strategic importance. By mid-year, the passage of the GENIUS Act provided a clear regulatory framework for USD-backed stablecoins, fostering trust and laying the groundwork for broader adoption. October brought a historic moment as Bitcoin surpassed $125,000 to record a new all-time high, while tokenized real-world assets spanning real estate, commodities, and financial instruments surged, demonstrating how blockchain is bridging traditional finance and the digital economy.

Regulatory and institutional progress continued to gain momentum as the year advanced. The CFTC’s December 4 announcement allowing listed spot crypto products on registered futures exchanges marked a pivotal step in evolving the ecosystem from regulated ETFs to clearer cross-border compliance frameworks and deeper institutional participation. These milestones underscore a global shift toward credibility, transparency, and scalable adoption of digital assets, positioning crypto to play an increasingly integral role in the years ahead.

This year, as we celebrated ZebPay’s 11th anniversary, we unveiled our new identity, “Bitcoin Mein Pro.” Since 2014, Bitcoin has been central to what we do, and with this reaffirmation of our long standing conviction, we have made Bitcoin investing our clear and enduring purpose. Throughout 2025, we upheld education as a core priority, through workshops, explainers, and platform-led initiatives, with the aim of helping users understand the true essence of Bitcoin as an asset class, build confidence, embrace long-term thinking, and develop an investor mindset that looks beyond short-term market movements, as they progress in their ‘Pro’ journey. Furthermore, we strengthened our security architecture through advanced, multi-layered protections, complemented by enhanced KYC/AML frameworks that ensure a fully compliant and trustworthy environment for every user.

We are committed to helping people embrace Bitcoin with confidence while building long-term trust in digital assets. Moving into 2026, we anticipate exciting opportunities to expand adoption, introduce innovative solutions, and strengthen the infrastructure that will support the next generation of crypto investors. ZebPay’s mission is to guide this journey with clarity, reliability, and a focus on sustainable growth that creates long-term value.