Bitwise Forecasts Bitcoin to Hit $200K by 2025 Year-End, but ETH and SOL May Miss New Highs

On June 30, 2025, leading crypto asset manager Bitwise released its Mid-Year Scorecard, evaluating its December 2024 predictions for 2025 and outlining new projections for the second half of the year. The report, authored by Bitwise CIO Matt Hougan and Head of Research Ryan Rasmussen, maintains its bold $200,000 Bitcoin price target while revising expectations for Ethereum and Solana.

Key predictions and assessments include:

1. Bitcoin Outlook:
- Despite BTC reaching only $112,000 (not $200K) in May 2025, Bitwise reaffirms its year-end $200K target
- Drivers include strong ETF inflows, corporate treasury adoption, and U.S. strategic Bitcoin reserves
- Positive factors: Trump Administration's pro-crypto policies, institutional demand, and stablecoin growth

2. Ethereum & Solana:
- Bitwise reverses its previous all-time high predictions for ETH and SOL in 2025
- Potential catalysts: Stablecoin ETF approvals and increased corporate treasury adoption (though not yet observed)

3. Market Developments:
- Bitcoin ETF inflows ($13B H1 2025 vs. 2024's $35B) expected to accelerate with expanding platform support
- Tokenized real-world assets projected to surpass $50B (up from $13B to $25B in H1)
- Stablecoin AUM likely to approach $400B target via regulatory progress and Mastercard's integration

4. Revisions to 2024 Predictions:
- Correct: Coinbase joining S&P 500
- Incorrect: AI/memecoin frenzy continuation (faded after LIBRA/Trump-themed coin declines)

Regulatory Challenges:
Despite optimism, Bitwise acknowledges hurdles including stalled crypto-friendly tax reforms and ambiguous U.S. Bitcoin reserve policies (with unverified holdings of 200K+ BTC). The strategic reserve currently comprises only seized assets without new purchases. While the Trump Administration has dropped some enforcement cases, comprehensive crypto legislation remains uncertain.

Keywords: Bitcoin, Crypto Prediction, Bitwise, Stablecoin, ETF