According to Coinbase’s latest State of Crypto report, in the first half of 2025, Fortune 500 companies and global asset managers have been continuously expanding their blockchain activities and allocations. 60% of Fortune 500 executives said that their companies are engaged in on – chain initiatives. The average number of projects per company has increased from 5.8 to 9.7 year – on – year, representing a 67% growth.
Moreover, nearly 20% of the respondents now consider blockchain programs as a core element of their future strategies, which is a 47% increase compared to 2024. The application scenarios of blockchain continue to expand beyond the financial and technological fields to industries such as retail, healthcare, automotive, and food, as companies conduct trials on payment rails, supply – chain tracking, and identity credentials. 38% of executives believe that on – chain tools can generate incremental sales, and 37% are actively planning for additional deployments.
Nearly half of the Fortune 500 respondents said that their companies’ capital expenditures on blockchain have increased over the past year. In the past three quarters, Fortune 100 companies have announced 46 distinct Web3 projects, reaching a historical high despite the macro – economic uncertainty.
Institutional investors have also shown great enthusiasm for the crypto market. The ten largest spot Bitcoin (BTC) exchange – traded funds (ETFs) have attracted a cumulative inflow of $50 billion, which is twice the first – year inflow of the best – selling traditional ETFs. Ethereum (ETH) funds have received $3.5 billion in the first quarter after listing, outperforming their historical peers in terms of both assets under management and the number of institutional holders.
Survey data shows that 83% of institutional investors plan to increase their crypto holdings this year, and 59% intend to allocate more than 5% of their assets under management to the crypto sector. Additionally, 73% of investors already hold tokens other than BTC and ETH, and 76% expect to invest in tokenized real – world assets by 2026.
Asset managers believe that the availability of products and the depth of liquidity are the main driving forces for this trend. The daily trading volume of Bitcoin ETFs has become stable, which can compete with traditional stock funds, facilitating the trading of pension funds and insurance companies that need to trade on a large scale. At the same time, the growth of treasury – backed stablecoins and the $21 – billion tokenized bond market provide fixed – income desks with more investment tools.
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