Wall Street dominated crypto in 2025. What’s next for demand in 2026?

• 2025 saw heavy institutional participation in $BTC , $ETH , and $SOL

• Spot Bitcoin ETFs pulled in ~57B in net inflows, with total AUM near 115B

• Since October, ETF inflows have cooled and markets corrected

• Bitcoin is down ~30% from highs, Ether ~50%

Key demand drivers to watch in 2026:

• Continued institutional, corporate, and sovereign adoption

• ETF flows vs real spot market demand

• Macro backdrop: Fed policy, AI cycle strength, and equity market direction

The next leg won’t be driven by headlines.

It’ll be driven by real buy-side demand or the lack of it.