Crypto & Blockchain Stocks Benefit From Favorable Policy Tailwinds

An updated edition of the Sept. 10, 2025 article.

Cryptocurrencies such as Bitcoin, Ethereum, Solana, Cardano, Dogecoin, XRP, stablecoins and other altcoins operate on blockchain networks, decentralized systems that leverage advanced cryptography to ensure secure, transparent and immutable record keeping. This tamper-resistant infrastructure continues to fuel widespread adoption and investor confidence.

The regulatory environment is shifting in favor of digital assets. The GENIUS Act, passed on July 17, establishes a legislative foundation for stablecoins, which benefits the likes of Circle Internet Group CRCL that offers USDC. Pending measures — including the CLARITY Act and the Anti-CBDC Surveillance State Act — suggest continued progress. In August, Wyoming announced its plan to issue its own stablecoin, the Frontier Stable Token. Illinois enacted the Digital Assets and Consumer Protection Act, which allows the Illinois Department of Financial and Professional Regulation to regulate and supervise digital asset exchanges and other digital asset businesses.

U.S. policy direction under President Donald Trump has further supported the market. Securities and Exchange Commission’s (SEC) Spring 2025 Regulatory Agenda introduces potential rules, including amendments to Exchange Act Rules to account for the trading of crypto assets on Alternative Trading Systems and national securities exchanges, as well as rules relating to the offer and sale of crypto assets. In September, the Nasdaq filed a Form 19b-4 with the SEC, proposing rule changes that would allow trading of equity securities and exchange-traded products (ETPs) in “tokenized form” (utilizing blockchain technology) on Nasdaq. This bodes well for major exchanges like Coinbase COIN, Robinhood HOOD and CME Group CME.

Bitcoin, the most popular cryptocurrency, has been soaring due to increasing acceptance as a non-sovereign asset, as well as higher institutional and corporate adoption. However, volatility remains a headwind. Over the trailing 12 months, bitcoin has traded between a low of $67,839.67 and a high of $124,714.85. Over the past seven days, bitcoin has decreased 9%.

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Circle Internet Group offers USDC stablecoin, which is redeemable on a one-for-one basis for U.S. dollars and is backed by reserves consisting of highly liquid, price-stable cash and cash equivalents. As of Oct. 30, $75.85 billion USDCs were in circulation, rising from $61.3 billion at the end of the second quarter of 2025. An expanding partner base, which includes the likes of Kraken, Binance, Corpay, FIS, Fiserv, OKX, Finastra and Fireblocks, is noteworthy. 

Circle’s focus on developing USDC-based payment infrastructure is expected to boost growth prospects over the long term. This Zacks Rank #3 (Hold) company has now made Arc, its new open Layer-1 blockchain purpose-built for onchain financial applications and enterprise adoption, available for public testnet. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Circle has been taking initiatives to boost stablecoin adoption for payments. Arc supports programmable capital markets, global payments, and tokenized assets with predictable dollar-based fees, sub-second finality, optional privacy, and native integration with Circle’s platform products, including USDC. Circle Payments Network is a platform for financial institutions to use stablecoins for payments, with more than 100 institutions in the pipeline. Circle Gateway, introduced in July, enables seamless cross-chain USDC usage and is currently supported by eight new blockchain partners. 

Coinbase provides financial infrastructure and technology for the crypto economy in the United States and internationally. This Zacks Rank #3 company is America’s largest registered crypto exchange. Everything Exchange, a one-stop shop to trade every asset class, has been a key offering from Coinbase. In the third quarter of 2025, the company expanded spot coverage under the Everything Exchange platform. The integration of decentralized exchange has expanded access to tradable assets from about 300 to more than 40,000 in the U.S.

In the third quarter of 2025, Coinbase expanded its derivative product portfolio with the launch of CFTC-regulated 24/7 perpetual style futures in the United States. The Deribit acquisition is noteworthy in this regard, as total derivatives volume is expected to jump manifold. Derivatives account for about 80% of all COIN’s crypto trading volume. Stablecoin adoption also bodes well for Coinbase’s prospects. In the third quarter of 2025, Coinbase customers held, on average, $15 billion of USDC on the platform. 

Coinbase expects fourth-quarter 2025 subscription and services revenues to be in the range of $710-$790 million, reflecting higher average crypto prices and the Coinbase One subscriber base.

CME Group, the largest futures exchange in the world in terms of trading volume and notional value traded, is riding on record volume growth. CME Group leads with about 90% market share of the global futures trading and clearing services.

In the third quarter of 2025, average daily volume of 25.3 million contracts represented the second-highest third-quarter average daily volume in CME’s history. Strong customer base, reflected by quarter and year-end open interest of 126 million contracts, the highest open interest at the end of September in the past five years, reflects growing interest.

CME Group’s crypto complex traded a record 340,000 contracts per day in the third quarter of 2025 and jumped more than 225% year over year, driven by successful offerings of Solana and XRP futures. The company plans to offer 24/7 trading of cryptocurrency futures and options beginning early 2026.

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