Asset manager Bitwise has released a bullish long-term outlook for the crypto market, predicting that Bitcoin, Ethereum, and Solana could all reach new all-time highs by 2026 as exchange-traded fund demand accelerates and institutional adoption deepens.
According to Bitwise, the traditional four-year crypto market cycle is beginning to lose relevance. Instead, ETF-driven capital flows, macroeconomic shifts, and structural changes in market participation are expected to play a much larger role in price formation over the coming years.
The firm believes Bitcoin is evolving into a more mature financial asset, supported by growing institutional involvement and declining volatility. Bitwise noted that Bitcoin showed lower volatility than several major technology stocks during parts of 2025, signaling a shift in how the asset behaves within broader portfolios.
Bitwise expects large financial institutions such as Citi, Morgan Stanley, Wells Fargo, and Merrill Lynch to significantly expand crypto exposure for clients through spot ETFs. As access improves, the firm projects that most institutional investors will be able to allocate to crypto ETFs by 2026.
One of the most striking forecasts in the report is ETF demand overwhelming new token supply. Bitwise estimates that ETFs could purchase more than 100% of new issuance for Bitcoin, Ethereum, and Solana combined. By 2026, roughly 166,000 Bitcoin, 960,000 Ethereum, and 23 million Solana tokens are expected to enter circulation, with ETF inflows potentially exceeding those amounts.
Ethereum and Solana are highlighted as key beneficiaries of stablecoin growth and asset tokenization, particularly if regulatory clarity improves. Bitwise pointed to potential passage of the CLARITY Act as a major catalyst that could unlock additional institutional participation across smart contract platforms.
Beyond tokens, Bitwise sees strong upside in crypto-related equities. The firm expects companies providing infrastructure, custody, and financial services for digital assets to outperform traditional technology stocks. Its Crypto Innovators Index has already delivered stronger performance than tech equities over the past three years, driven by revenue growth, mergers, and improving regulatory conditions.
The report also forecasts rapid expansion in the stablecoin market, warning that widespread adoption could create tensions in emerging markets. Bitwise suggested that one or two countries may eventually blame economic instability on the growing use of dollar-backed stablecoins.
Looking ahead, Bitwise predicts the launch of more than 100 crypto-linked ETFs in the U.S., driven by anticipated SEC approval of unified listing standards. The firm refers to this expected wave of products as an “ETF-palooza” in 2026.
Finally, the report suggests that crypto adoption will extend further into traditional finance. Bitwise expects half of Ivy League university endowments to invest in digital assets and forecasts that assets held in on-chain vaults will double over the coming years.
Overall, Bitwise’s outlook paints a picture of a crypto market increasingly shaped by institutional capital, regulated investment vehicles, and real-world financial integration rather than speculative cycles alone.
