Flood of new crypto ETPs expected in 2026, says Bitwise

Mike McGlone, a senior commodity strategist at Bloomberg Intelligence, has issued a warning about a potential market downturn, likening it to a 'hurricane' expected in 2026. This forecast reflects growing concerns about the stability of the cryptocurrency market, particularly as Bitcoin's long-term trends show signs of weakness.

The U.S. Securities and Exchange Commission (SEC) has charged a solo bitcoin miner, Micah Zimmerman, for defrauding investors out of $48.5 million through the sale of fraudulent mining hosting agreements that promised passive income. This case highlights the ongoing challenges in regulating cryptocurrency investments and protecting investors from scams.

Intercontinental Exchange Inc. (ICE), the parent company of the New York Stock Exchange (NYSE), is reportedly in discussions to invest in the cryptocurrency payments firm MoonPay, which is seeking a valuation of $5 billion. This potential investment aligns with ICE's strategy to expand its footprint in the rapidly evolving cryptocurrency market.

Dogecoin (DOGE) is nearing a critical price zone as investor interest wanes, ETF inflows stagnate, and selling pressure increases. The cryptocurrency is trading close to levels where many holders acquired their tokens, raising concerns about potential downside risks if market confidence continues to decline.

Bitcoin's 'realized cap' has reached a record high of over $1 trillion, indicating a significant valuation metric for the cryptocurrency, despite ongoing skepticism regarding its traditional four-year price cycle. This situation has been highlighted by Bitwise's Andre Dragosch, who notes that the current macroeconomic environment is being overlooked by investors.

Bitcoin and Ethereum prices have declined significantly, attributed to a wave of fear in the cryptocurrency market following BlackRock's transfer of 2,257 BTC and 74,973 ETH to Coinbase. This move raised concerns about potential sell-offs by the world's largest asset manager, coinciding with ETF outflows on December 16.

Canary Capital has amended its S-1 registration statement with the SEC for a staked Injective ETF, outlining details such as custodians, staking plans, and a proposed listing on Cboe BZX, amid mixed signals in the INJ price and derivatives markets.

Bitwise has released a forecast predicting that Bitcoin, Ethereum, and Solana will reach new highs by 2026, driven by increasing demand for exchange-traded funds (ETFs) that are absorbing more supply than is being introduced into the market. This trend is further supported by a surge in stablecoin usage and the ongoing tokenization of institutional portfolios.