Bitwise: Bitcoin will hit $200,000 by the end of 2025, ETH and SOL won’t update ATHs this year

On June 30, 2025, a reputable asset management company, Bitwise, released a Mid-Year Scorecard document, containing predictions for the second half of the year and analyzing how correct they were about the first half of 2025 in December 2024. According to Bitwise, the Bitcoin price will reach $200,000, while ETH and SOL will not get new highs in the remainder of 2025.

The document, penned by the Bitwise CIO Matt Hougan and head of research Ryan Rasmussen, is the follow-up to the December 2024 text in which the authors made “bold predictions” about 2025. Now they analyze whether they were right or not and offer more predictions for the second half of 2025.

Bitcoin’s, Ether’s, and Solana’s new all-time highs

In December 2024, Bitwise’s experts predicted that Bitcoin would reach $200,000 in 2025. They turned out to be correct that the BTC price will get a new all-time high. However, it was only $112,000 in May, not $200,000. 

The reasons for the growth cited by Bitwise include the strong ETF flows, hefty Bitcoin purchases by treasury companies, and the creation of the U.S. Bitcoin stockpile. Hougan and Rasmussen reaffirm their optimism on Bitcoin, saying they are still sure the first cryptocurrency is going to reach $200,000 by the end of the year, citing pro-crypto efforts of the Trump Administration 2.0, high institutional demand, and the rise of stablecoins as factors that will contribute to the BTC price growth.

As for Ether and Solana reaching new ATHs in 2025, Bitwise experts reversed their expectations, saying that they are not that confident anymore. They see hope in stablecoin ETFs approvals and the rise of SOL and ETH treasury companies (which we don’t see yet).

Bitcoin ETFs inflows growth, RWA tokenization hitting $50 billion, and other bets

Bitwise predicted that 2025 will outperform 2024 in terms of Bitcoin ETF inflows. 2024 saw $35 billion in Bitcoin ETF inflows. This year saw only $13 billion. Still, Bitwise experts are sure they were correct, as the number of platforms supporting Bitcoin ETFs keeps growing. 

As tokenization has actively been adopted in various countries throughout the first half of 2025, Bitwise experts confirm they still believe that the value of tokenized real-world assets (like real estate) will cross the $50 billion mark this year. During the first half of the year, this amount grew from $13 billion to $25 billion.

In December 2024, Bitwise predicted that the number of countries holding Bitcoin would double, going from nine to 18. While it didn’t happen, Hougan and Rasmussen believe that Bitcoin accumulation by countries is happening in secret, and the trend of Bitcoin reserves will continue.

In 2024, Hougan and Rasmussen claimed that the stablecoins’ AUM will reach $400 billion in 2025. Now, they believe that this amount was too high, however, according to them, the actual amount will be close as the GENIUS act adoption (for which they hope) and stablecoin boost by Mastercard with its 150 million merchants across the globe will propel stablecoins’ AUM up from the current $230 billion level.

Bitwise admitted its mistake in betting that Coinbase would outperform Charles Schwab as the most valuable brokerage in 2025. Now, Bitwise claims such an outcome is unlikely. However, they turned out to be correct about predicting that Coinbase would enter the S&P 500 in 2025.

Another prediction from 2024 that turned out to be a mistake, Bitwise recognized, is that the AI memecoin mania will continue in 2025 and will be even stronger than in 2024. Now Bitwise says with the downfall of LIBRA, Official Trump, and MELANIA, the memecoin and AI coin craze has taken a break.

Reservations about some of the Bitwise predictions

While Bitwise cites the D.C. efforts on clearing the way for cryptocurrencies in America as the factor that will push the BTC Price up, this path has been bumpy. Recently, crypto lobbyists in the administration failed to push crypto-friendly amendments to the “big, beautiful tax bill.” Earlier, a fierce battle between Republicans and Democrats surrounded the efforts to set a framework for stablecoin regulation. 

The creation of the Strategic Bitcoin reserve turned out to be such a disappointment for the crypto enthusiasts that it didn’t even ignite the market. While the reserve creation was declared, it meant only keeping bitcoins acquired through seizing. New purchases of bitcoins via budget money are forbidden, meaning that the reserve growth prospects are still unclear. On top of that, although the audit of the seized bitcoins was discussed, the government didn’t provide any results of that, leaving the general public in doubt whether over 200,000 bitcoins are actually owned by the U.S. and stored properly. 

The efforts of Sen. Cynthia Lummis, who advocated for spending money to buy at least 1,000,000 bitcoins for the strategic reserve, failed just like her work to include crypto-friendly tax cuts in the new bill.

It’s hard to say if these facts overshadow all the positive steps, like the SEC dropping Biden-era cases against huge crypto companies and the general pro-crypto stance of the Trump Administration.