As 2025 nears its end, investors are focusing on two primary questions: how swiftly Washington will establish a comprehensive regulatory framework for digital assets and whether advancements in quantum computing present an immediate risk to blockchain security, according to a report from crypto asset manager Grayscale released Monday.
Grayscale believes one of these discussions could significantly influence markets soon, while the other might be more of a distraction than a catalyst.
The firm’s analysts anticipate a bipartisan crypto market structure bill being enacted in 2026, marking a significant achievement for the asset class.
Despite ongoing negotiations over key components, the analysts indicated that the overall trend is evident: Lawmakers are steering toward a conventional financial-market framework for cryptocurrency, which will include registration and disclosure mandates, clearer classifications of digital assets, and regulations for insiders.
A more comprehensive and unified regulatory framework in the U.S. and possibly other major economies could have tangible effects on adoption.
Regulated financial institutions may become more willing to hold digital assets on their balance sheets, while enhanced legal clarity could motivate institutions to conduct transactions directly on blockchains. The report suggests that such changes would signify the initial phase of a more institutional era for crypto markets.
Conversely, the analysts regard concerns about quantum computing as a legitimate but exaggerated topic as we approach 2026.
While the firm expects this issue to generate headlines and discussions, it is unlikely to have a significant impact on asset prices in the near future. Grayscale recognizes that in theory, sufficiently advanced quantum computers could compromise current cryptographic standards by deriving private keys from public ones, potentially facilitating fraudulent transactions.
In the long term, Grayscale asserts that most blockchains, including Bitcoin and a large portion of the broader digital economy, will need to transition to post-quantum cryptography. Nonetheless, the firm believes these risks are still a distant concern. Although markets may eventually evaluate blockchains based on their preparedness for the quantum challenge, this will not materially affect valuations in the coming year.
Read more: Crypto asset manager Bitwise says bitcoin will break its four-year cycle in 2026
