Coinbase 2026 outlook says ETFs, stablecoins and tokenization could drive crypto adoption

Coinbase's 2026 outlook identifies four converging forces—spot ETFs, stablecoins, tokenization and clearer regulation—as the main engines of global crypto adoption next year, and the firm says momentum from 2025 is expected to compound in 2026.

Coinbase published a 2026 outlook that highlights key market trends it expects to shape crypto adoption next year. The report points to spot ETFs, stablecoins, tokenization and clearer regulation as converging forces. Coinbase's head of investment research, David Duong, said adoption advanced materially in 2025 and that these forces are likely to compound in 2026. The outlook frames these developments as building on ETF launches and early corporate uses of crypto in 2025. Key points: - The outlook names four converging forces for 2026: spot ETFs, stablecoins, tokenization and clearer regulation. - Coinbase says adoption advanced materially in 2025 and expects that momentum to compound in 2026, according to David Duong. - Spot crypto ETFs that launched in major markets in 2025 are described as a structural turning point, and the report expects ETF approval timelines to shorten in 2026. - The report highlights digital asset treasuries (DATs) as an institutional trend where companies hold crypto exposure through regulated vehicles rather than directly on-chain. - Stablecoins are reported to move trillions annually across exchanges and DeFi despite a market cap of a few hundred billion, and Coinbase expects a larger role for stablecoins in delivery-versus-payment structures, payments and cross-border commerce. - Tokenization of real-world assets remains small in absolute terms (low single-digit billions) but is growing as banks, asset managers and fintechs test blockchain rails for collateral and settlement. Summary: Coinbase describes 2026 as a year in which the advances seen in 2025 may deepen, with ETFs, stablecoins and tokenization becoming more integrated into regulated markets and financial workflows. The report notes expectations for shorter ETF approval timelines, expanded use of stablecoins in settlement and payments, and broader recognition of tokenized collateral as these trends develop.