Odaily Odaily report: Grayscale Research Managing Director Zach Pandl said that after the approval of the spot ETF in 2024 and the election of Trump, the crypto industry will see more small-scale breakthroughs in 2025. He expects that institutions such as pension funds and endowment funds will accelerate their entry, Congress will enact more comprehensive legislation, and Bitcoin is expected to become a reserve asset of the United States. Pandl believes that it is "not entirely impossible" for Bitcoin to reach $500,000 by 2030. He revealed that some portfolio managers have already started allocating up to 5% of crypto assets, and more institutional approval processes are expected to be completed within 6-12 months. He is also particularly optimistic about the prospect of institutional adoption of Ethereum, calling it "one of the most important open-source software projects." (Cointelegraph)