According to The Block’s Data and Insights newsletter, the volume of blockchain-related mentions in SEC filings surged throughout 2025, reaching around 8,000 mentions by August and remaining elevated through November.

Bitcoin-related mentions dominated this increase, reflecting the boom in spot Bitcoin ETF filings and amendments following multiple successful product launches in early 2024, as traditional asset managers continued to expand cryptocurrency offerings throughout 2025. The sustained elevation of Bitcoin mentions contrasts with more cyclical patterns seen in categories like ICOs and general cryptocurrency references, suggesting that institutional focus has coalesced around Bitcoin as the primary regulatory pathway for traditional finance entry.

The filing surge coincided with meaningful legislative progress that provided clearer operational frameworks for market participants.

A key milestone was the GENIUS Act, enacted in early 2025 in the U.S., which established comprehensive stablecoin regulation. The act mandated 100% reserve backing, strict AML compliance, monthly disclosures, and dual regulatory pathways: federal oversight for larger issuers and state options for those under $10 billion.

Following this, the House passed the Digital Asset Market Clarity Act in July, building on the FIT21 framework from 2024 to establish broader market structure guidelines. These legislative developments created more predictable compliance pathways, encouraging firms to formalize operations through proper registration.

These trends indicate that companies and financial institutions increasingly prioritize legal compliance when entering the crypto market, particularly through Bitcoin and tightly regulated products.