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Pantera 2025 Review: Structural Progress Outpaces Price Gains, Regulatory Shifts and ETFs Key Drivers

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Pantera Capital’s 2025 review shows structural progress in crypto outpaced price gains. U.S. regulatory shifts, including SEC leadership changes and SAB 121 revocation, improved the environment. Capital gains tax clarity and stablecoin legislation also advanced. Solana and XRP ETFs, Robinhood’s tokenized stocks, and RWA growth are building long-term foundations. Liquidity and crypto markets saw steady improvements, with Coinbase joining the S&P 500.
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