Digital asset manager Grayscale has released its forecast for 2026 and highlights 10 major themes in crypto investment that they believe will impact the markets for digital assets.
The report also states that quantum computers and digital asset tax histories (DAT) will not affect market movements in 2026.
Grayscale's crypto investment themes for 2026
Grayscale 2026 Digital Asset Outlook describes the period as 'The dawn of the institutional era' for the crypto industry. The company believes that structural changes in investments in digital assets will increase in 2026, primarily due to increased demand for alternative value stores and clearer regulations.
According to Grayscale, these trends could attract new capital, broaden usage – especially among affluent investors and institutions – and integrate public blockchains into conventional financial infrastructure.
As crypto is increasingly driven by inflows from institutional capital, price development changes. During previous bull markets, Bitcoin's price increased by at least 1,000% within a year. This time, the maximum increase was about 240% (the year leading up to March 2024). We believe the difference is due to more stable institutional purchases compared to the rapid purchases made by individuals in earlier cycles,” the report states.
Grayscale identified ten investment themes for 2026 and mentioned specific cryptocurrencies that could benefit from these trends.
1. The risk of USD weakening increases demand for alternative assets
The first theme concerns the risk of USD weakening, where Bitcoin (BTC), Ethereum (ETH), and Zcash (ZEC) are seen as the main alternatives for investors wanting to protect against risks from fiat currencies.
Grayscale noted that the U.S. economy has increased debts, which could put long-term pressure on the dollar's role as a value store. Only a few digital assets may be good value stores according to the company. This is due to good diversification, high decentralization, and limited supply growth.
This applies to the two largest crypto assets by market value, Bitcoin and Ether... Bitcoin's supply is limited to 21 million and is fully programmatic... Zcash, a less decentralized currency with anonymity, could also fit portfolios preparing for USD weakening,” the company says.
2. Clear regulations help the entire industry grow
Grayscale pointed out clearer regulations as a significant factor for broader usage within the digital asset ecosystem. The report states that clearer regulations allow more participants in the market, benefiting several sectors and not just one type of asset.
Next year, we believe we will see a new major step when laws on market structure are adopted... Since regulations are so important for crypto in 2026, the lack of legislation in Congress is a risk according to us,” adds Grayscale.
3. Stablecoins become more important for financial services on the blockchain
The development of stablecoins is becoming a significant theme after President Donald Trump signed the GENIUS Act. The report states that by 2026 we may see clear results, including how stablecoins are used for international payments, as collateral on exchanges, and on corporate balance sheets.
Grayscale also pointed out that stablecoins could be used for online payments instead of credit cards. The company believes that the growth of prediction markets could also lead to increased demand for stablecoins. The report explains:
Higher volumes with stablecoins benefit the blockchains that process these transfers (for example, ETH, TRX, BNB, and SOL), but also several supporting infrastructures (like LINK) and DeFi applications.
4. Asset Tokenization enters a growth phase
The report highlighted that the tokenization of real assets is becoming another interesting area within digital asset markets. Grayscale argued that the sector is small today but that improved infrastructure and regulations could lead to significant growth in the area going forward.
In 2030, it would not be surprising if tokenized assets grow by about 1,000 times,” commented the team.
The company believes that infrastructures and smart contract platforms such as Ethereum, Solana, Avalanche, and BNB Chain, along with players like Chainlink, could become winners if tokenization gains increased traction.
5. Privacy solutions become fundamental needs
The report emphasizes that technology focused on anonymity is becoming increasingly important for more people to use digital assets in the economy. Projects like Zcash, Aztec, and Railgun may benefit as more investors seek anonymity.
We may also see more confidential transfers on major platforms like Ethereum (with ERC-7984) and Solana (with Confidential Transfers). Enhanced privacy tools also require better identity and compliance infrastructure for DeFi,” wrote Grayscale.
6. Blockchain reduces centralization risks with AI
The role of blockchain in countering the centralization of artificial intelligence is the sixth theme. As AI development becomes more centralized, decentralized networks like Bittensor, Story Protocol, Near, and Worldcoin offer new alternatives for secure and verifiable data processing and data management.
7. DeFi activity increases with lending as a key driver
The seventh theme concerns increased activity in decentralized finance. This year, DeFi applications have gained more momentum.
Additionally, lending protocols like Aave, Morpho, and Maple Finance have grown significantly. The report also shows that trading on decentralized futures exchanges, such as Hyperliquid, has increased.
The growing liquidity, collaboration, and connection to real prices on these platforms make DeFi a credible alternative for those who want to manage finances directly on-chain. We believe that key DeFi protocols will benefit — for example, lending platforms like AAVE, decentralized exchanges like UNI and HYPE, and infrastructure like LINK — as well as blockchains that are the foundation for most of the DeFi activity (for example, ETH, SOL, BASE),” predicted Grayscale.
8. New generation of blockchain infrastructure responds to the needs for broad usage
The report addresses ongoing tests with new blockchain networks that aim to solve issues related to scalability, performance, and user-friendliness. According to the company,
All of today's faster blockchains will not develop the same way, but we believe some will succeed. Better technology does not guarantee more users will come, but next-generation networks have a design that fits new areas, such as AI micropayments, real-time gaming, rapid trading directly on-chain, and systems based on intentions.
Grayscale mentions projects like Sui, Monad, MegaETH, and Near as examples of networks that could become interesting.
9. Investors focus on sustainable revenues
The company believes that institutional investors may begin to look at revenues and fees on-chain when valuing blockchains and applications.
The report shows that smart contract platforms with comparatively high revenues include Tron, Ethereum, Solana, and BNB. HYPE and PUMP are also among the assets at the application level with high revenues.
10. Staking as a standard in investment products
The tenth theme concerns staking. Grayscale notes that clearer regulations for staking could benefit providers of liquid staking like Lido and Jito.
Overall, the possibility for crypto ETPs to stake means this structure will likely become standard for investments in Proof of Stake tokens. It leads to higher staking rates and pressure on rewards,” adds the company.
Why Grayscale does not believe quantum computers will affect cryptocurrency prices in 2026
At the same time, while Grayscale believes that all these investment themes will affect the cryptocurrency market in 2026, the company also sees two subjects that are likely to have no significant impact. These are potential cryptographic risks from quantum computers and the development of digital asset vaults (DATs).
Research on quantum risk and how the community is preparing is likely to take off in 2026, but we do not believe it will affect prices. The same applies to DATs. They are likely to remain in the cryptocurrency market but are unlikely to create additional demand for tokens or greater selling pressure during 2026,” explains the manager.
Thus, Grayscale forecasts for 2026 show a shift towards institutions controlling the cryptocurrency market more, where usage, regulation, and sustainable revenue models become more important for development.
