What crypto stocks are worth looking forward to in 2025?

Author: Ben Strack, Blockworks; Compiler: Wu Baht, Golden Finance

Chatting with the co-portfolio manager of the long-time blockchain-focused Amplify Transformational Data Sharing ETF (BLOK) is a great conversation to have when researching cryptocurrency stocks.

Dan Weiskopf told me he 's more optimistic about 2025 now than he was about this year at the end of 2023.

What's the main reason? As more pure-play cryptocurrency companies go public, there will be “crazy opportunities” for investors.

Some expect stablecoin issuer Circle could be next to go public.

Weiskopf noted that while several other Bitcoin miners may also go public, it's a crowded space. But BLOK would consider holding cloud computing company CoreWeave - one of mining giant Core Scientific's largest customers.

Speaking of Core Scientific, the stock - which is up about 320% year to date - is BLOK's top holding (4.67%). Another miner Weiskopf is interested in is Hut 8 - the ETF's sixth-largest holding at 4.16%.

"I think we've done a really good job of repositioning and realigning miners to seize the diversification opportunities in artificial intelligence," Mike Venuto noted.

Hut 8 has a slightly higher weighting than MicroStrategy - the stock will be added to the Nasdaq 100 next week (I'll have more on this on Monday). Weiskopf and co-prime minister Mike Venuto noted that BLOK began purchasing MSTR in August 2020 (at a price of $14).

MSTR shares trade at around $350 (up more than 400% year to date). Benchmark analysts raised their price target on the stock to $650 on Monday after MicroStrategy increased its Bitcoin holdings to 439,000 BTC.

Still, Weiskopf and Venuto recently reduced BLOK's exposure to MSTR and CORZ as the stocks "rose above our weight limits," they added. In other words, they are cutting back on winners in the hope that other successes will follow.

BLOK fund managers began buying Japan's Metaplanet last month as they await more IPOs in 2025.

While more and more companies are adding BTC to their treasury (around 60, according to Weiskopf), many are small. He said it’s unlikely that so-called “zombie companies” will rebound simply because they bought crypto assets.

“They make the headlines, but do they have a real strategy?” Weiskopf added that he is evaluating these BTC buyers.

He believes that one company dedicated to these BTC purchases is Metaplanet, which announced its intention to emulate MicroStrategy's efforts in April. The company said this week it would issue 5 billion yen in ordinary bonds to accelerate Bitcoin purchases.

So for those monitoring cryptocurrency stocks, BLOK holdings appear to be worth a look. Additionally, in what could be a transformational year for the sector, there are opportunities that have yet to materialize.