Bitwise says shifting crypto narratives are really bullish for Ethereum, Solana, and stablecoins, citing structural demand, ETF accumulation exceeding issuance, and regulatory momentum that could drive the market’s next growth phase into 2026 and beyond.
‘Really Bullish’ Bitwise Call Frames Breakout Pressure for Ethereum and Solana if CLARITY Act Passes
Shifts in crypto market narratives are increasingly very bullish on Ethereum, Solana, and stablecoins as adoption expands beyond a single asset, according to predictions by Bitwise Asset Management in its 10 Crypto Predictions for 2026 report released last week. The report positions these assets as core drivers of the market’s next phase of growth.
The report states:
We’re bullish on Ethereum and Solana. Really bullish. Primarily because we think stablecoins and tokenization are megatrends, and Ethereum and Solana are likely to be the biggest beneficiaries of that growth.
That conviction is tied to structural demand drivers rather than short-term price dynamics. The research outlines how Ethereum continues to anchor decentralized finance activity, stablecoin issuance, and tokenized real-world assets, while Solana has emerged as a leading network for high-throughput payments and consumer-scale applications.
It details that since the rollout of U.S. spot exchange-traded funds (ETFs), institutional vehicles have accumulated more newly issued ether and solana than their networks produced over the same period, reinforcing persistent demand pressure. The analysis connects these flows to broader regulatory progress, noting that clearer rules have already encouraged banks, wealth managers, and asset allocators to expand crypto exposure through regulated products.
Bitwise also explained that regulatory momentum remains a decisive variable for stablecoins and the blockchains that support them. The report adds: “But the near-term growth of stablecoins and tokenization depends a lot on the continued progress of regulation in the U.S. We took a huge step forward in 2025 with the passage of the stablecoin-focused GENIUS Act. To take the next step, we need to see Congress pass ‘market structure’ legislation in the form of the CLARITY Act.”
The analysis emphasizes that market structure legislation would define oversight boundaries between the U.S. Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC), reducing uncertainty for institutional participants. In that scenario, the report concludes with a clear conditional outlook, stating:
Ethereum and Solana will set new all-time highs (if the CLARITY Act passes).
Alongside this, the research documents rapid expansion in stablecoin market capitalization, rising from about $205 billion to nearly $300 billion, with projections approaching $500 billion by the end of 2026. It notes that adoption is concentrated in regions facing inflation or currency instability, positioning stablecoins as essential payment and savings tools, while simultaneously reinforcing ethereum and solana as the settlement layers underpinning that growth.
