Bitwise: ETF Demand Could Drive BTC, ETH and SOL to New All‑Time Highs by 2026
Asset manager Bitwise forecasts that strong ETF demand and institutional flows will push Bitcoin (BTC), Ethereum (ETH) and Solana (SOL) to new all‑time highs by 2026. The firm estimates roughly 166,000 new BTC, 960,000 new ETH and 23 million new SOL issuance over the period and expects spot ETFs to buy more than 100% of that new supply — creating sustained buy pressure. Bitwise also predicts a surge in U.S. crypto‑linked ETFs (100+ launches under new SEC listing standards), wider access to spot crypto ETFs, and greater institutional allocation (including half of Ivy League endowments adopting crypto exposure). The report highlights stablecoin growth and tokenization as channels funneling institutional capital onto Ethereum and Solana, expanding on‑chain vault AUM and DeFi TVL. Non‑price risks noted include potential political backlash (stablecoins blamed for emerging‑market currency strains) and macro or regulatory setbacks that could derail the scenario. Key trader takeaways: concentrated ETF buying may reduce BTC volatility and elevate prices, ETH and SOL could receive disproportionate inflows from tokenization and DeFi activity, and crypto infrastructure and equities may outperform broader tech — but outcomes depend on continued ETF inflows and regulatory clarity.
Bullish
Bitwise’s projections point to sustained, ETF-driven net demand that outstrips new token issuance for BTC, ETH and SOL — a clear fundamental bullish signal. If spot ETFs continue to purchase more than 100% of new supply, available float tightens and upward price pressure increases; history shows ETF inflows and reduced supply availability can materially lift prices and dampen volatility. For traders this implies: in the short term, announcements of ETF approvals, large inflows, or index inclusion could trigger spikes and momentum trades across BTC, ETH and SOL. Medium-to-long term, persistent ETF demand and broader institutional adoption would likely reduce realized volatility and support higher price floors, favoring trend-following and carry strategies. Caveats: the bullish thesis depends on regulatory clarity and sustained inflows — policy setbacks, SEC decisions, macro downturns or sudden stablecoin-related controversies could reverse sentiment quickly, raising downside tail risk. Overall, expected directional impact on the named tokens is bullish, but execution risk and event-driven volatility remain significant.