“The firm says regulatory clarity is driving institutional investment, and fiat currency debasement is increasing interest in alternative stores of value, such as BTC and ETH.”, — write: www.coindesk.com
In its report, “2026 Digital Asset Outlook: Dawn of the Institutional Era,” the asset manager argued that the familiar four-year crypto cycle tied to bitcoin halving may be breaking down, replaced by steadier capital inflows and deeper integration with traditional financial markets.
Two drivers behind Grayscale’s outlookGrayscale said its optimistic outlook rests on two structural drivers shaping demand for digital assets.
First, it expects continued macro demand for alternative stores of value as high public-sector debt and fiscal imbalances increase risks to fiat currencies. Bitcoin BTC$86,825.89 and ether ETH$2,925.10which Grayscale described as scarce digital commodities with transparent and programmatic supply, may increasingly serve as portfolio ballast against inflation and currency debasement risks.
The firm pointed to bitcoin’s fixed issuance schedule — including the expected mining of the 20 millionth bitcoin in March 2026 — as an example of the predictability that distinguishes digital assets from fiat money systems.
Second, Grayscale stated that regulatory clarity is accelerating institutional investment in public blockchain technology. The firm cited the approval of spot crypto exchange-traded products, the passage of the GENIUS Act on stablecoins and expectations for bipartisan US crypto market structure legislation in 2026 as developments that could further integrate blockchain-based finance into mainstream capital markets.
Ten crypto investing themes shaping 2026Against that backdrop, Grayscale outlined 10 investing themes it expects to influence crypto markets next year, reflecting a shift from speculative narratives toward adoption, infrastructure and sustainable use cases.
Macro, money and market structureGrayscale said concerns about dollar debasement and the credibility of fiat currency could continue to drive demand for alternative monetary assets, such as bitcoin, ether and privacy-focused tokens. Regulatory clarity is expected to support adoption broadly across the crypto ecosystem, lowering barriers for institutions to transact, custody assets and deploy capital on-chain.
Stablecoins are likely to play an expanded role following the GENIUS Act, with Grayscale highlighting their growing use in payments, cross-border settlement, derivatives collateral and corporate treasury operations. The firm also expects asset tokenization to reach an inflection point as improved regulation and infrastructure enable equities, bonds and other securities to be issued and traded on public blockchains.
Technology, infrastructure and on-chain financeBeyond macroeconomic and regulatory factors, Grayscale expects continued acceleration in decentralized finance, particularly in lending markets, supported by growing liquidity and favorable regulatory tailwinds. It also pointed to a rising emphasis on sustainable revenue generation at both the protocol and application levels, arguing that institutional investors are increasingly focused on measurable fundamentals, such as transaction fees.
The firm highlighted the need for next-generation blockchain infrastructure capable of supporting mainstream adoption, including higher throughput, improved privacy and real-time use cases such as gaming, trading and AI-related micropayments. It also expects staking to become a default feature for proof-of-stake assets as regulatory guidance enables broader participation through investment products and custodial platforms.
Finally, Grayscale argued that the intersection of blockchain and artificial intelligence could drive demand for decentralized identity, computing and payments systems, particularly as concerns grow around AI centralization and data ownership.
What Grayscale does not expect to matter in 2026Grayscale also identified two widely discussed topics that it does not expect to have a material influence on crypto markets next year.
While research into post-quantum cryptography will continue, the firm believes quantum computing is unlikely to pose a meaningful threat to blockchain security or asset valuations in 2026. It also downplayed the impact of digital asset treasuries, arguing that despite heavy attention in 2025, these vehicles are unlikely to be a major source of new demand or forced selling next year.
Instead, Grayscale sees the defining features of crypto markets in 2026 as likely to be institutional capital inflows, clearer regulation and a continued shift toward real-world use cases built on public blockchain infrastructure.
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence’s Token Security API averaged 717 million monthly calls year-to-date in 2025, with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch, the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B, while derivatives volume peaked the same month at over $4B.
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The safety net is the 100-week average, which has stalled the downtrend.
- Bitcoin trades near a critical 100-week simple moving average, a key support level for bulls.
- Strategy shares have already fallen below this average, signaling potential bearish trends for bitcoin.
- Bulls must defend this support to prevent further declines similar to Strategy’s recent losses.
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