21shares trims 2026 crypto forecasts despite institutional adoption gains
21shares cut several bullish crypto forecasts in its midyear outlook, saying institutional adoption is still strengthening but weak prices, low retail activity, DeFi losses, and slower enterprise uptake have delayed some 2026 targets. It argues the industry’s infrastructure has advanced faster than prices, with continued progress in ETFs, stablecoin regulation, tokenization, and prediction markets. Bitcoin’s four-year post-halving cycle is still viewed as intact, even though institutions have made the market larger and less volatile. Prediction markets were highlighted as a standout, with annual trading volume projected to exceed $100 billion this year. The report also sees consolidation accelerating across crypto treasury companies and Ethereum layer-2 networks. Despite about $3 billion in U.S. spot Bitcoin ETF outflows, holdings remain near record highs, suggesting long-term investors are staying committed. Improved U.S. regulatory clarity is also supporting a steady pipeline of new crypto ETF launches.
