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"IOSG Founder: 2025 Will Be the Worst Year in the Crypto Market, What About 2026?" IOSG founder Jocy stated that although the crypto market faces price pressure in 2025, it is undergoing a structural shift from retail speculation to institutional allocation. Data shows that although BTC's return for the year is negative, the net inflow into spot Bitcoin ETFs is approximately $25 billion, institutional holdings have increased to 24%, and they continue to absorb long-term holder selling pressure. She believes that, with a clearer regulatory environment, the current phase is not the top of the bull market but rather an institutional accumulation stage; the first half of 2026 is expected to be positive driven by policies and institutional funds. Read more: