ChainCatcher 消息，据市场消息，2025 年加密风险投资总额达 497.5 亿美元，较 2024 年增长 433.2%，尽管全年项目数量下降 42.1% 至 898 个，显示资金向大型项目集中。 全年最大交易为 Naver 以 103 亿美元全股票收购 Upbit 母公司 Dunamu。此外，Strategy、ICE、Abu Dhabi MGX 等机构也主导多起十亿美元级融资案。DeFi 项目占全年投融资比重最高，为 22.4%。

ChainCatcher 消息，据市场消息，2025 年加密风险投资总额达 497.5 亿美元，较 2024 年增长 433.2%，尽管全年项目数量下降 42.1% 至 898 个，显示资金向大型项目集中。全年最大交易为 Naver 以 103 亿美元全股票收购 Upbit 母公司 Dunamu。此外，Strategy、ICE、Abu Dhabi MGX 等机构也主导多起十亿美元级融资案。DeFi 项目占全年投融资比重最高，为 22.4%。

2025 年加密风投融资激增 433%，达 497.5 亿美元

According to ChainCatcher, market sources indicate that total cryptocurrency venture capital investment reached $49.75 billion in 2025, a 433.2% increase compared to 2024. Although the number of projects decreased by 42.1% to 898, this suggests a concentration of funds in larger projects. The largest deal of the year was Naver's $10.3 billion all-stock acquisition of Dunamu, the parent company of Upbit. Furthermore, institutions such as Strategy, ICE, and Abu Dhabi MGX also led several billion-dollar funding rounds. DeFi projects accounted for the highest proportion of total investment and funding, at 22.4%.

According to ChainCatcher, market sources indicate that total crypto venture capital investment reached $49.75 billion in 2025, a 433.2% increase from 2024, despite a 42.1% decrease in the number of projects to 898 throughout the year, suggesting that funds are concentrated in larger projects. The largest deal of the year was Naver&#39;s $10.3 billion all-stock acquisition of Upbit&#39;s parent company, Dunamu. In addition, Strategy, ICE, and Abu Dhabi MGX led several billion-dollar funding rounds. DeFi projects accounted for the highest proportion of total investment and funding throughout the year, at 22.4%.

Crypto venture capital funding surged 433% to $49.75 billion in 2025.

Wall Street bank Morgan Stanley recently officially filed an application with the U.S. Securities and Exchange Commission (SEC) to launch a spot Ethereum ETF, further expanding its strategy to penetrate the market...

Morgan Stanley has filed an application to launch an Ethereum spot ETF.

Author: Yuanshan Insights
Data Source: Farside Investors, SoSoValue, Fed H.4.1 Report, CryptoQuant

On the first trading day of 2026, BTC ETF saw a net inflow of $471 million.

What does this figure mean?

In November and December, the combined net outflow of spot BTC ETFs was approximately $4.57 billion; with a net outflow of approximately $1.09 billion in December alone.

Many people frantically sold at a loss above 93K, and institutions bought back about one-tenth of that amount on January 2nd alone.

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