1. Despite recent volatility, the iShares Bitcoin ETF has outperformed the S&P 500, showcasing crypto's resilience and potential for future gains. 2. Regulatory changes and a crypto-friendly SEC leadership could enhance Bitcoin ETF efficiency, making IBIT more appealing and reducing costs for investors. 3. Short-term volatility persists, but demand-supply dynamics and miners' HODLing behavior support a bullish outlook for Bitcoin and IBIT by 2025.