According to Coinbase’s latest 2026 outlook, four converging forces – crypto ETFs, stablecoins, tokenization and clearer regulation – will be the main drivers of global crypto adoption next year.
On December 31, 2025, David Duong, Head of Investment Research at Coinbase, said: “This adoption has increased significantly in 2025. Spot ETFs have created sustainable and regulated access, while digital asset treasuries (DATs) have become new corporate balance sheet vehicles. Meanwhile, tokenization and stablecoins have become deeper into core financial workflows.
“We expect these forces to become more pronounced in 2026 as ETF approval times shorten, stablecoins play a larger role in delivery versus payment (DvP) structures, and tokenized collateral is recognized more widely in traditional transactions,” he added.
According to Duong, the momentum that started in 2025 with spot ETFs, corporate crypto treasuries, and early tokenization will not subside, but will intensify in 2026.
—David Duong
(@DavidDuong) December 31, 2025
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Spot Crypto ETFs launched in 2025 will constitute a structural turning point in 2026
Spot crypto ETFs launching in major markets in 2025 are being touted as a structural turning point, providing traditional investors with a familiar, regulated wrapper for Bitcoin, Ethereum and other assets. Coinbase analysis expects ETF approval times to be shortened in 2026.
Coinbase is also highlighting “digital asset treasuries” (DAT) as a complementary institutional trend, in which companies hold crypto exposure through regulated vehicles rather than directly on-chain, further normalizing the asset class on balance sheets.
Stablecoins already move billions of dollars each year on exchanges and DeFi despite having a market capitalization of around a few hundred billion dollars. This shows their importance as everyday settlement assets.
Stablecoins already move billions of dollars each year on exchanges and DeFi despite having a market capitalization of around a few hundred billion dollars. This shows their importance as everyday settlement assets.
Coinbase suggests that as regulation increases, stablecoins will play a larger role in delivery versus payment frameworks, in everyday payment flows, and in cross-border commerce.
RWA tokenization remains small in absolute terms – around a few billion in value – but adoption is increasing as banks, asset managers and fintechs test the rails of blockchain for collateral and settlement.
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Key takeaways
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Coinbase says 2025 marked a decisive shift toward regulatory clarity in key jurisdictions, paving the way for more confident institutional participation in 2026.
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Coinbase’s outlook highlights that demand for cryptocurrency has diversified beyond early adopters and pure macro-hedging narratives like “digital gold.”
The article Coinbase 2026 Outlook: Companies Bets on ETFs, Stablecoins and Tokenization to Drive Growth appeared first on 99Bitcoins.
