Momentum from crypto exchange-traded funds, stablecoins, tokenization, together with clearer rules, is about to compound in 2026, accelerating crypto adoption, in line with Coinbase’s head of funding analysis, David Duong.
In a year-end wrap-up posted to X on Wednesday, Duong said 2025 noticed spot exchange-traded funds create regulated entry to crypto, digital asset treasuries emerge as new company balance-sheet autos, and tokenization and stablecoins transferring deeper into core monetary workflows.
“We count on these forces to compound in 2026 as ETF approval timelines compress, stablecoins take a bigger function in delivery-vs-payment (DvP) buildings, and tokenized collateral is acknowledged extra broadly throughout conventional transactions,” he mentioned.
World crypto adoption has been regular over the previous couple of years, starting from 10.3% in Q1 2023 to 9.9% in Q1 2025, accordingly the analytics platform Demand Sage.
Regulation key to the following section of institutional adoption
Clearer international frameworks have been a key improvement in 2025, driving crypto’s transformation from a distinct segment market to an rising pillar of world market infrastructure, and altering how establishments strategy technique, danger, and compliance, Duong mentioned.
The US has pivoted in the direction of stablecoin oversight and market-structure readability with the GENIUS Act, whereas Europe consolidated its Markets in Crypto-Property regulation, higher often known as MiCA.
“The sensible consequence is actual operational readiness: higher coverage guardrails that allow product innovation, market maturation, and the embedding of crypto rails into funds and settlements. That is the inspiration on which the following section of institutional adoption is being constructed,” Duong mentioned.
He added that “coverage readability, institutional structure, and broader participation are converging to make crypto a part of the monetary core,” and if the trade delivers high quality merchandise, regulatory stewardship, and user-centric design, “we may help be certain that the following wave of innovation reaches everybody, all over the place, on a regular basis.”
Crypto demand now not tied to a single narrative
In contrast to the early days of crypto, the investor base has additionally turn out to be way more numerous and is now not dominated by early adopters, with a broader cross-section of allocators and end-users reshaping general demand, leading to an necessary market shift, mentioned Duong.
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“Demand now not hinges on a single narrative; it displays the interaction of macroeconomics, expertise, and geopolitics, and it’s more and more anchored to a long-term, strategic thesis knowledgeable by crypto’s rising integration into mainstream finance,” he mentioned.
“Ultimately, we expect that shift will help extra persistent capital and fewer purely speculative churn.”
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