In 2026, digital assets are at an inflection point. The groundwork laid in 2025—regulatory progress in the U.S., $31 billion of inflows into EFT marking institutional buy-in, and acceleration of stablecoins—is qualitatively shifting crypto into mainstream finance. The next two years will be defined by how quickly and through which channels this integration occurs.

Banks Prepare Crypto Access for Clients

The first wave of bank-led digital asset offerings targeting retail and private wealth clients is fast approaching. Schwab and E*TRADE are preparing new offerings. Bank of America offered crypto investment to its wealth management clients in 2025; its advisors can now discuss and recommend certain crypto-linked products within established frameworks. Regulatory progress is fast-tracking internal approvals, setting the stage for deeper integration over the next 12 to 18 months.

ETFs Scale While DATs Face a Viability Test

Additional ETFs will continue launching in 2026, expanding beyond Bitcoin and Ethereum into broader crypto indices and thematic strategies. Combined flows into BTC and ETH ETFs reached around $31 billion in 2025, with ETF trading volume now totaling roughly 30% of the spot market.

Digital Asset Treasuries (DATs) present a more complex picture. Having reached a market cap of around $150 billion in 2025, DATs have accumulated roughly 5% of BTC, 4% of ETH, and 2.5% of other assets. However, recent equity market sell-offs—often at discounts to their underlying holdings—raise questions about their long term viability. 2026 will test whether DATs can deliver superior risk adjusted returns versus holding tokens directly.

Stablecoins Become Core Market Infrastructure

Stablecoins grew substantially in 2025, with market cap increasing by 49% to roughly $300 billion today. As usage escalates across trading, DeFi, cross-border payments, and merchant flows, settlement cycles and liquidity management will become sharply more efficient in traditional markets. 2026 will bring increased adoption and new launches by banks or perhaps even a tech company or e-commerce player, using a white labeled stablecoin or via a banking license approach. As countries push back against dollarization, 2026 may bring more traction in non-USD denominated coins. 

Tokenization Moves From Pilot to Production 

Tokenization has moved from concept to execution. Case in point: BlackRock's tokenized money market fund crossed $500 million in AUM in 2025, while JPMorgan launched MONY on Ethereum, seeded with $100 million. On the retail side, Robinhood is piloting tokenized U.S. stocks for European users, and Coinbase has filed for a federal trust charter.

In 2026, as these products move onchain, we will see more composability tokenized securities interacting seamlessly with onchain lending, derivatives, and yield. Similarly, 2026 should bring broader Real-World Asset (RWA) adoption, including government bonds, credit, and private assets.

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Regulatory Clarity Becomes a  Primary Catalyst

U.S. regulatory clarity around stablecoins, market structure, and digital asset classifications will be pivotal in 2026. The central question is whether emerging U.S. policy converges on a framework that meaningfully expands institutional participation.

The CFTC's enablement of spot crypto products trading on its exchanges brought new regulatory oversight and enhanced market integrity in 2025. With rising applications for regulatory licenses, including state level frameworks and full bank charters, 2026 will hopefully show the gradual normalization of crypto within existing regulatory perimeters. The pace, however, remains uncertain. Clear rules around stablecoin issuance, custody standards, and market manipulation will be essential to unlocking the next wave of institutional capital.

Market Infrastructure Migrates to Blockchain Rails

Continued adoption of blockchain based settlement rails by exchanges and broker-dealers represents one of the most structurally significant trends to watch in 2026. Coinbase's "Exchange Everything" philosophy captures this dynamic: as it expands into tokenized stocks, it positions itself as a fierce competitor to CME, Nasdaq, and retail brokers.

The race is between traditional exchanges upgrading to digital asset rails and blockchain-based exchanges with different custody and settlement models. Additionally, early production systems that shorten settlement cycles and expand collateral options using digital assets could emerge in 2026.

DeFi Evolves Into a Unified Liquidity Layer

In 2025, DeFi pushed decisively towards institutional scale. Total value locked (TVL) rose 40% last year. Whilst TVL is down in the early days of 2026, DeFi continues to be adopted by banks and TradFi players as core financial infrastructure for trading, money movement, credit, lending, and yield transformation. We will see the evolution of DeFi into a unified liquidity layer for both native and real -world assets, with seamless interoperability and risk transfer across them.

From Cycles to Structure

There is reason for cautious optimism. 2026 will show the industry is no longer just reacting to market cycles—it is reshaping market structure itself. Bank adoption, tokenization, stablecoin transformation, DeFi maturation, and regulatory clarity are interconnected developments that signal crypto's transition into an integral component of global financial infrastructure. Together, these developments suggest that digital assets are no longer evolving in isolation. They are increasingly shaping—and being shaped by—the architecture of global financial markets. The direction is increasingly clear, even if the pace remains uneven.

About B2C2

B2C2 is a global leader in institutional liquidity for digital assets. Founded in 2015, we are trusted by blue chip hedge funds, institutional managers, brokers, crypto exchanges, and crypto foundations. We provide deep, reliable liquidity and pricing in crypto, delivering seamless execution 24/7/365. Majority owned and backed by Japanese financial conglomerate, SBI, B2C2 Ltd is headquartered in the UK, with offices in the US, Japan, Singapore, France and Luxembourg.

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