CoinShares has released its 2026 outlook titled “The Year Utility Wins,” positioning next year as the moment when digital assets transition from speculation to practical adoption. The report introduces Hybrid Finance as the central framework where traditional financial institutions and blockchain infrastructure converge into a unified system serving real economic purposes. Source: CoinShares Report Bitcoin reached all-time highs in 2025 while becoming more deeply embedded in institutional frameworks. St ...

Crypto asset manager CoinShares said digital assets are shifting from an outside-the-system experiment to a core layer of financial infrastructure as large institutions build on public blockchains. In its 2026 Digital Asset Outlook published Monday, the investment firm argued that the next phase will be defined by convergence, not disruption, dubbing it “hybrid finance” — crypto rails merging with traditional finance to create new market plumbing. “Digital assets are no longer operating outside the tradi ...

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]

Core Insights - CoinShares International Limited has launched the CoinShares Physical Staked Toncoin (CTON), providing institutional access to TON, the blockchain integrated with Telegram's 900+ million users [1][3][10] - The launch aims to meet the growing European institutional demand for diversified blockchain exposure, positioning Toncoin as a significant opportunity within the layer 1 blockchain landscape [3][5] Company Overview - CoinShares is a leading global digital asset manager with over $10 billion in assets under management, offering a range of financial services including investment management and trading [1][8] - The firm is regulated in multiple jurisdictions, including Jersey, France, and the US, and is publicly listed on Nasdaq Stockholm [8] Product Features - The CoinShares Physical Staked Toncoin ETP (CTON) offers a 0% management fee, a 2% staking yield, and direct 1:1 exposure to underlying TON tokens [9] - The product is designed for trading in USD on the SIX Swiss Exchange and is accessible across various European markets [10] Market Context - TON's integration with Telegram provides a unique value proposition, leveraging an established infrastructure and a significant user base to support real applications and payments [4][5] - The blockchain's high-performance capabilities, with over 104,000 transactions per second, enhance its appeal in the current market [4]

Core Insights - CoinShares has launched the CoinShares Physical Staked Toncoin (CTON), a regulated exchange-traded product providing institutional access to TON, the blockchain integrated with Telegram's 900+ million users [1][2][3] Group 1: Product Launch and Features - The CoinShares Physical Staked Toncoin (CTON) offers exposure to TON and is designed for European investors, extending the existing market footprint of CoinShares [1][10] - The product features a 0% management fee, a 2% staking yield from network validation rewards, and is physically backed with direct 1:1 exposure to underlying TON tokens [9][10] - CTON will begin trading on the SIX Swiss Exchange, allowing transactions in USD similar to traditional securities [9][10] Group 2: Market Context and Strategic Positioning - CoinShares identifies Toncoin as a compelling opportunity within the layer 1 blockchain landscape, particularly due to its integration with Telegram, which provides a significant user base and established infrastructure [3][4] - The blockchain's high-performance capabilities, with over 104,000 transactions per second, enhance its market reach and technical performance [4][5] - CoinShares aims to bridge the gap between traditional digital services and decentralized infrastructure, aligning with its hybrid finance investment thesis [5][6] Group 3: Company Background - CoinShares is a leading global digital asset manager with over $10 billion in assets under management, providing a range of financial services to various clients [1][8] - The firm is regulated in multiple jurisdictions, including Jersey, France, and the US, and is publicly listed on Nasdaq Stockholm [8]