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Crypto fundraising hits $28.6B in 2025, up 60% and highest since 2022 peak

Crypto fundraising totaled $28.6 billion in 2025, a 60% increase from 2024 and the highest annual figure since the 2022 bull market peak, Messari's State of Fundraising 2025 report shows. Messari attributed the rebound to renewed institutional confidence following Trump's regulatory pivot and the landmark approvals of spot Bitcoin and Ethereum ETFs. The $28.6 billion total indicates the industry's venture capital engine is operating near peak capacity ahead of 2026.
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