21Shares trims 2026 crypto forecasts as infrastructure outpaces prices

Asset manager 21Shares scaled back several 2026 price targets, saying crypto infrastructure has advanced faster than prices despite growing institutional adoption and ETF resilience.

• 21Shares said Bitcoin's four-year cycle remains intact despite more institutional ownership
• US spot Bitcoin ETFs saw $3B in outflows this year but holdings remain near 1.25M BTC
• Prediction markets are a standout sector, with annual volume projected to exceed $100B
• Consolidation is accelerating across L2 networks and crypto treasury companies
• Weaker prices, DeFi exploits and slow enterprise adoption pushed targets out of reach

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