Crypto asset manager CoinShares says digital assets are shifting from experimental tools to fundamental components of the financial system, as major institutions increasingly leverage public blockchains.
In its 2026 Digital Asset Outlook, published Monday, the firm predicts the next phase will focus on integration rather than disruption, a trend it calls “hybrid finance”—where crypto infrastructure merges with traditional financial systems to create new market frameworks.
“Digital assets are no longer operating outside the traditional economy,” said CEO Jean-Marie Mognetti, adding that 2026 is expected to bring “consolidation into the real economy.”
The report highlights growing stablecoin adoption and the rise of tokenized assets, including private credit and U.S. Treasuries, along with an expansion of tokenized funds, deposits, and stablecoin launches from established institutions.
Bitcoin adoption is also accelerating. U.S. spot ETFs have seen more than $90 billion in inflows, while over one million BTC are held in corporate treasuries across 190 public companies.
Looking ahead, CoinShares anticipates broader access via wealth platforms, retirement accounts, and increased direct institutional settlement through custody banks. The firm also lays out three potential bitcoin price paths tied to macroeconomic conditions:
- Soft landing with productivity gains: BTC above $150,000.
- Steady growth: BTC between $110,000–$140,000.
- Stagflation or recession: Short-term decline followed by rebound.
Competition for the settlement layer in hybrid finance is intensifying, with Ethereum remaining the institutional anchor even as rivals gain ground.
“2026 will be defined by a financial system quietly rearchitecting itself around public blockchains and digital settlement layers,” said James Butterfill, CoinShares head of research.
The report also flags regulatory divergence, from Europe’s MiCA framework to evolving U.S. stablecoin rules and Asia’s Basel-style approach, as well as structural shifts including miners moving into HPC and AI infrastructure and the mainstreaming of prediction markets.
