Wintermute released a forecast for 2025 saying that this year cryptocurrencies will be more deeply integrated into traditional finance (TradFi) through exchange-traded funds (ETFs) and corporate holdings, the UAE and Europe may follow the US in establishing a BTC strategic reserve, a public company will sell debt or stock to buy ETH mimicking MicroStrategy's (MSTR) bitcoin acquisition policy, and a systemically important bank will offer spot cryptocurrency trading to customers.