From speculation to infrastructure, digital assets are experiencing a structural shift in 2026

According to the latest insights from investment bank B. Riley, the digital asset industry will reach a critical turning point in 2026. It will no longer be merely a speculative tool but will gradually evolve into a practical financial infrastructure. This shift is not unfounded; it is driven by multiple factors contributing to a structural change.

Core Factors Driving the Shift

The main forces supporting this transformation include:

• The regulatory framework becoming increasingly mature, with clearer rules around stablecoins
• Traditional financial institutions beginning large-scale deployment of blockchain technology
• The ongoing tokenization of real-world assets (RWA)
• Continuous improvement of governance frameworks
• Increasing interoperability between bank ledgers and public blockchains

The combined effect of these factors is changing the fundamental purpose of digital assets, beyond just trading.

Transformation of Business Models

This industry trend is already reflected in corporate behavior. B. Riley points out that digital asset treasury companies are shifting from simple token hoarders to operational enterprises capable of generating actual revenue. Companies like BitMine have already begun this transition, investing digital assets into real operations to create sustainable, recurring income.

From Hoarding to Operating

What does this shift mean? Simply put, companies are no longer passively storing digital assets but actively using them to create value. This upgrade in business models is expected to be promoted across the entire industry.

Positive Signals from Policy Environment

It is worth noting that MSCI recently decided to delay removing companies with high holdings of cryptocurrencies from its indices, which in the short term benefits the valuation and capital inflows of digital asset-related companies. This decision, to some extent, reflects an improving attitude of the traditional financial system toward digital assets.

Summary

By 2026, the digital asset industry will be at a critical juncture. The transition from a speculative tool to a financial infrastructure is not just a marketing slogan but a real change driven by mature regulation, institutional participation, and technological advancement. Upgrading business models and improving policy environments point in the same direction: digital assets are moving from the fringe to the mainstream financial system. This will have a profound impact on the industry’s development trajectory and may present new opportunities for enterprises and investors who can adapt to this shift.