CoinShares 2026 Outlook: Digital Assets Move From Disruption to Integration

Core Insights - The concept of 'hybrid finance' is emerging as blockchain technology integrates with traditional financial systems, creating a new infrastructure that neither sector could develop independently [2][3][9] - Major financial institutions, including BlackRock and J.P. Morgan, are actively participating in the blockchain space, indicating a shift from traditional finance being an observer to a builder on public blockchains [4][5] Hybrid Finance Development - Stablecoin transaction volumes are now comparable to those of Visa and Mastercard, with projections estimating a US$3 trillion market by 2030 [3] - Tokenised assets, particularly in private credit and US Treasuries, have more than doubled in 2025, showcasing significant growth in this sector [3] - AAVE, a decentralized finance (DeFi) lending protocol, has achieved liquidity levels comparable to the largest banks in the U.S. [3] Bitcoin's Mainstream Adoption - U.S. spot ETFs have attracted over US$90 billion, and corporate treasuries now hold over one million BTC across 190 public companies, nearly quadrupling in the last eighteen months [5] - The report anticipates further mainstreaming of Bitcoin in 2026, with major financial institutions opening Bitcoin ETF allocations and providing direct settlement services [6] Price Forecasts - CoinShares outlines three potential Bitcoin price scenarios for 2026: a soft landing could push prices beyond US$150,000, stable growth may see prices range between US$110,000 and US$140,000, while stagflation or recession could create near-term pressure [7] Platform Competition - Ethereum remains the dominant platform for hybrid finance, with US$13 billion in ETF net inflows, while Solana has increased its stablecoin supply from US$1.8 billion to US$12 billion since January 2024 [8] - Hyperliquid, a derivatives platform, has processed nearly US$3 trillion in cumulative volume, returning 99% of revenue to token holders [8] Regulatory Landscape - The EU's MiCA framework provides legal certainty for digital assets, while the U.S. GENIUS Act classifies payment stablecoins as non-securities, creating new demand for U.S. government debt [9][10] - Asia is adopting Basel-inspired standards, with Hong Kong finalizing crypto capital requirements effective January 2026 [10] Industry Transformation - Bitcoin miners are transitioning into diversified compute infrastructure providers, announcing US$65 billion in contracts with hyperscalers [11] - Prediction markets are gaining mainstream relevance, with Intercontinental Exchange investing up to US$2 billion in Polymarket, which is now seen as a reliable forecasting system [11]