Crypto VC Funding Hits $10B in Q2 2025, Highest Since 2022

Enterprise capital funding in crypto rebounded in the second quarter of 2025, with firms elevating $10.03 billion over the three-month interval ending June. It was the strongest quarter since Q1 2022, at $16.64 billion.

June accounted for the lion’s share, pulling in $5.14 billion, the very best month-to-month determine since January 2022, in accordance with data from CryptoRank. The surge adopted months of relative stagnation, suggesting that the urge for food for crypto is recovering.

Main the pack, Attempt Funds, an asset supervisor based by American entrepreneur and politician Vivek Ramaswamy, secured $750 million in May to ascertain “alpha-generating” methods by Bitcoin (BTC)-related purchases.

TwentyOneCapital secured $585 million in funding in April, making it the second-largest elevate of the quarter. Securitize ranked third in Q2 2025 with a $400 million elevate, adopted by different notables together with Kalshi ($185 million), Auradine ($153 million), ZenMEV ($140 million) and Digital Asset ($135 million).

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Coinbase Ventures dominates investments in Q2

Coinbase Ventures led Q2 exercise with 25 offers between April and June, topping the listing of lively traders. Animoca Manufacturers, Andreessen Horowitz (a16z) and Pantera Capital additionally ranked excessive, serving to drive the quarter’s surge in deal quantity.

In June, Coinbase Ventures once more topped the chart with 10 investments, adopted by Pantera Capital with eight, Galaxy with 5, and Paradigm (which led in the variety of lead investments) with 4 offers. Different lively corporations included Animoca Manufacturers, a16z, Cyber Fund and GSR.

Fundraising exercise was unfold throughout numerous sectors, with blockchain infrastructure and DeFi drawing vital curiosity. CeFi, NFT and GameFi classes additionally noticed average exercise, whereas memecoin funding remained muted regardless of occasional spikes.

Over the previous 12 months, seed-stage offers accounted for the most important share of crypto fundraising rounds, making up 19.43% of the overall 1,673 tracked offers. Strategic rounds adopted at 14.23%, reflecting sustained curiosity in long-term ecosystem performs.

Pre-seed and M&A exercise had been additionally notable, representing 9.26% and 9.44%, respectively. Sequence A rounds comprised 6.34% of the overall, whereas incubation offers made up simply 3.35%, in accordance with information from CryptoRank.

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Galaxy Digital raises $175 million in first exterior fund

Final month, Galaxy Digital closed its first external venture fund, elevating $175 million, which surpassed its preliminary $150 million goal. The fund will concentrate on high-growth crypto sectors together with stablecoins, tokenization and funds, together with the infrastructure supporting them.

In Could, Amsterdam-based Theta Capital Administration additionally raised over $175 million for its newest fund-of-funds, which is aimed toward supporting early-stage blockchain startups.

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