A new joint study by EY-Parthenon and Coinbase (NASDAQ:COIN) highlights a resilient yet more cautious stance among institutional players in the digital asset space. Conducted in January 2026 among 351 global institutional decision-makers—primarily firms managing over $1 billion in assets—the survey reveals that market turbulence has prompted smarter strategies without eroding long-term optimism.
While price swings have tested nerves, the overwhelming majority of participants remain committed to expanding their crypto footprints.
Central to the findings is sustained bullishness. Nearly three-quarters (73%) of respondents intend to boost their digital asset holdings over the coming year, while 74% forecast rising cryptocurrency prices in the next 12 months.
This conviction persists despite recent volatility, signaling that institutions view crypto as a core component of diversified portfolios rather than a speculative side bet.
The data underscores a shift from rapid enthusiasm to measured growth, with participants prioritizing sustainable integration over hasty expansions.
In response to market fluctuations, nearly half (49%) of surveyed institutions have ramped up their focus on robust risk controls, including enhanced liquidity management and precise position sizing.
This disciplined pivot reflects a broader evolution: firms are no longer chasing quick gains but are embedding stronger governance frameworks to navigate uncertainty.
As a result, exposure routes have matured significantly.
Two-thirds (66%) now access digital assets through spot exchange-traded funds or products (ETFs/ETPs), a notable increase from prior years.
Even more telling, 81% express a clear preference for regulated vehicles when seeking spot exposure, up sharply from 60% in the previous survey.
This preference for compliant, transparent channels underscores a maturing market where security and oversight take precedence.
Regulatory clarity emerges as a pivotal driver—and lingering hurdle.
A striking 78% of participants identify market structure as the area most urgently needing refined rules, while 66% flag regulatory uncertainty as their top investment concern.
Among those planning allocation hikes, 65% point to improved policy frameworks as a key catalyst.
Custody decisions have also transformed: regulatory compliance and advanced security measures (such as key-signing protocols) now top the list for 66% of respondents each, dramatic jumps from just 25% and 8% respectively in 2025.
These shifts highlight how institutions demand institutional-grade infrastructure to safeguard their growing commitments.
Forward-looking trends further illustrate innovation amid caution.
Interest in tokenized assets continues to climb, with 63% of firms expressing strong enthusiasm (up from 57% last year), particularly among asset managers.
Over 60% anticipate meaningful blockchain integration into trading, clearing, and settlement within three to five years, and 61% expect tokenization to reshape market structures profoundly.
Stablecoins, meanwhile, are solidifying their role as essential “institutional plumbing.”
Fully 86% are already using or exploring them, with primary applications centered on instant (T+0) securities settlement (88%) and efficient internal cash handling (85%).
Overall, the survey paints a picture of a sector entering a refined phase.
Volatility has not deterred participation; instead, it has honed approaches, fostering greater reliance on regulated products, tighter controls, and emerging technologies.
As institutions allocate more capital through secure channels, the groundwork for broader mainstream adoption strengthens.
With trading, custody, and tokenization ranking among top priorities (69%, 68%, and 67% respectively), 2026 signals continued evolution—where enthusiasm meets discipline to drive crypto’s next chapter in traditional finance.