CoinShares Report Reveals: Crypto’s 2025 Growth Now Fueled by Real Utility, Not Just Price Hype
Crypto's growth engine just got a major upgrade—and it's not the one Wall Street expected.
Forget the old pump-and-dump playbook. The latest data signals a profound market shift: adoption is no longer chasing price. Instead, genuine, on-chain utility is finally driving the bus. We've moved past the era where a celebrity tweet could move markets. The infrastructure is now being used, not just speculated on.
The Utility Takeover
This isn't about retail FOMO or institutional hedging strategies. The metrics tell a clear story. Network activity, transaction volumes for real-world applications, and developer growth are decoupling from short-term price action. The assets seeing sustained growth are the ones solving problems—settling payments, powering decentralized apps, and creating new digital economies.
Building Beyond the Hype Cycle
The narrative has flipped. It's a sign of a maturing asset class when growth stems from what a network can do, not just what its token might be worth tomorrow. This foundational shift suggests a more resilient ecosystem, one potentially less vulnerable to the wild swings that have defined crypto's past. Of course, some traditional finance veterans are still waiting for the 'utility' to show up on their quarterly P&L statements—a cynical reminder that old metrics die hard.
The takeaway is stark. The market is voting with its activity, not just its capital. The race is on for protocols that deliver tangible value, leaving empty promises and vaporware in the dust.
CoinShares Highlights Shift Toward Infrastructure and Utility
The firm said that crypto is no longer separate from the financial system. Digital tools are finally being put to use in the field. Banks and funds are using blockchain-based tools more and more. Crypto is not replacing traditional finance but supplementing it, according to CoinShares. This combination represents a more steady state of growth.
Sector maturity can also be seen on the projects that make waves. Infrastructure-based networks are actually solving real economic issues. CoinShares pointed to systems that LINK blockchains with established data and benchmark providers. These are projects that concentrate on functionality rather than the hype. Interest is now driven by utility rather than narrative-driven rallies.
The retail adoption of cryptocurrencies has followed a similar trajectory. People were exposed to crypto-enabled apps through non-esoteric uses. The prediction markets Polymarket and Kalshi emerged from their testing phases. Some are now conducted under regulatory control in the United States. CoinShares cited regulation to help transform these platforms into a viable product.
Regulation and Tokenization Shape Crypto’s Next Phase
Institutional exposure grows through spot bitcoin exchange-traded funds. The products provided familiar entry points for risk-averse investors. ETFs helped legitimize digital assets, said CoinShares. Growth depended less on macro shocks and more on steady adoption. This shift could shape momentum in 2026
Institutional exposure expanded through spot Bitcoin exchange-traded funds. These products offered familiar access points for cautious investors. The company said ETFs helped normalize digital assets. Growth relied less on macro shocks and more on steady adoption. This shift may shape momentum in 2026.
CoinShares expects market leaders to be driven by economic purpose in the future. Bitcoin is gaining footing as a non-sovereign global asset. Stablecoins are increasingly becoming settlement rails for digital commerce.
Tokenized financial products are progressing from pilots to actual issuance. Clarity in regulation in the US and universal application across Europe could unlock scale. The company warned that there WOULD still be small bubbles. Still, it said utility, integration, and cash flow now provide a foundation for crypto in the real economy.
