New capital entered crypto in 2025, but it remained largely locked into major assets like bitcoin and ether. A report from Wintermute shows how ETFs, options markets and changing retail behavior have reshaped market structure. Cryptocurrency liquidity increased in 2025 but remained concentrated in major assets. Cryptocurrency markets attracted new liquidity in 2025, but this capital did (…)
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ETFs Reshaped Crypto Liquidity Flows in 2025
