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+
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By Tom Carreras, AI Boost|Edited by Aoyon Ashraf
Jun 12, 2025, 5:16 p.m.
- A positive macroeconomic outlook and increased regulatory clarity are expected to boost crypto markets in the second half of 2025, according to Coinbase Research.
- Public companies are increasingly adding crypto to their balance sheets, though this trend introduces new systemic risks.
- The GENIUS Act and CLARITY Act could reshape the regulatory landscape for digital assets, with significant implications for issuers and investors.
A more upbeat macroeconomic backdrop, growing corporate appetite for digital assets, and increased regulatory clarity will fuel a constructive outlook for crypto markets in the second half of 2025, according to a report by Coinbase Research.
After a bumpy first quarter marked by a brief contraction in U.S. GDP and trade disruptions, data now point to stronger growth. The Atlanta Fed’s GDPNow tracker has jumped to 3.8% QoQ as of early June, a sharp upgrade from earlier in the year. This shift, alongside expectations of Federal Reserve rate cuts and a less aggressive trade policy, has eased recession fears and strengthened investor sentiment.
STORY CONTINUES BELOW
Declining dollar dominance and inflation protection use-cases may also boost bitcoin’s
appeal, even if long-dated U.S. Treasury yields remain elevated, the report said. Altcoins may lag unless they benefit from specific catalysts, such as ETF approvals or protocol developments.
Meanwhile, public companies are increasingly adding crypto to their balance sheets, aided by a 2024 rule change allowing “mark-to-market” accounting for digital assets. While this trend is expanding demand, it’s also introducing new systemic risks. Firms that fund crypto buys with convertible debt may be forced to sell if refinancing options dry up or prices fall sharply.
Regulatory developments are also expected to reshape the market, the report said.
The Senate recently passed the GENIUS Act, a bipartisan stablecoin bill now heading to the House. A broader market structure bill, the CLARITY Act, aims to define the roles of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) in overseeing digital assets. If passed, it could clarify rules for both issuers and investors.
Separately, the SEC is considering more than 80 crypto ETF applications, including multi-asset funds and proposals involving staking and altcoins. Some rulings could be made as early as July, and the rest are likely to be finalized by October.
Overall, bitcoin appears poised to benefit from both macro and structural tailwinds in the second half of the year, while the outlook for altcoins will depend on navigating a more complex and still-evolving regulatory and liquidity environment, according to the report.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Tom writes about markets, bitcoin mining and crypto adoption in Latin America. He has a bachelor’s degree in English literature from McGill University, and can usually be found in Costa Rica. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
“AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk’s AI Policy.
