Grayscale forecasts that 2026 will foster significant shifts in the digital asset investment landscape, driven by broader economic factors and clearer regulations.

However, the firm believes two often-discussed matters—risks posed by quantum computing and the rise of digital asset treasuries (DATs)—will not notably impact the cryptocurrency market in that year.

Quantum Risks and DATs Won’t Move Markets

Concerns surrounding quantum computing often resurface, yet Grayscale, in its report titled “2026 Digital Asset Outlook,” asserts that the perceived threat does not pose an imminent risk to the market. While future quantum capabilities could compromise current cryptographic systems, experts anticipate that such advancements are unlikely before 2030. Thus, while research into more secure cryptography may pick up speed next year, Grayscale does not expect it to significantly influence cryptocurrency valuations soon.

Furthermore, despite gaining media attention, the firm adopts a cautious stance on DATs. Corporate strategies involving crypto assets surged in 2025 but have recently cooled, with many DATs trading close to their net asset value. Most are not heavily leveraged and are not expected to drive enforced sell-offs during downturns.

Grayscale expects DATs to resemble closed-end funds, serving as a consistent yet neutral presence in crypto markets for 2026.

New ATH Expected in 2026?

On the pricing front, Grayscale maintains a bullish outlook for Bitcoin, believing it may achieve a new all-time high in the first half of the year despite short-term market challenges. The firm asserts that the overall cryptocurrency market is still in a bull phase, and 2026 might signal the conclusion of the traditional four-year cycle, potentially leading to increased valuations across all sectors.

The optimism from Grayscale is founded on two main factors: growing macro demand for alternative assets as public debt levels increase the risks associated with fiat currencies, and improved regulatory clarity which is drawing institutional investment into the market. Key developments, including Grayscale’s victories in legal battles against the SEC, the introduction of Bitcoin and Ether exchange-traded products, and stablecoin legislation, have all contributed to lowering investor uncertainty.

Looking forward, further bipartisan legislation concerning cryptocurrency markets is anticipated, which could firmly integrate blockchain-based finance into U.S. capital markets and bolster Bitcoin’s price.