As digital assets mature and market structure deepens, corporate and institutional crypto holdings are being reclassified from speculative bets to managed treasuries. Instead of sitting passively on balance sheets, these positions are increasingly treated as a distinct asset pool, with dedicated strategies for liquidity, risk, and yield.

Crypto markets enter 2026 in a markedly different position than in prior cycle transitions. Rather than resetting after a speculative peak, the market appears to be progressing through a phase of institutional consolidation.

Given the current macroeconomic context, we are seeing the emergence of two major risks likely to have a decisive impact.

This week, we’re releasing our latest Asset Ranking. This time the scoring has developed beyond a simple liquidity ranking to encompass a broader range of metrics that truly measure the tradability of an asset. As well as looking at volume, liquidity and market capitalization the new ranking also considers market availability, maturity, and custody scores.

This week, we’re releasing our latest Asset Ranking. This time the scoring has developed beyond a simple liquidity ranking to encompass a broader range of metrics that truly measure the tradability of an asset. As well as looking at volume, liquidity and market capitalization the new ranking also considers market availability, maturity, and custody scores.

Following recent market shocks, we’re examining hedging practices in crypto markets. Perps dominate trading volume, dwarfing options, but is it time for regime change and could options be the answer? The October 10 crash reminded us how extreme crypto’s volatility can be, and how current hedging tools are limited due to the relatively small size of the market.