In the "2026 Outlook," the Fidelity Digital Assets research team believes that this year's key is not an immediate price surge, but a more subtle dynamic, namely a structural "reshaping" of the entire digital asset ecosystem. Although the price performance this year has been sometimes flat and sometimes volatile, closer observation reveals that several underlying trends are continuously advancing.

This article reviews the progress of several key themes from the "2026 Outlook" to date, pointing out which of our judgments have been confirmed, which have diverged, and what these changes might mean for the future.

We had anticipated that the integration of digital assets with traditional capital markets would continue to advance in 2026. So far, this trend has indeed moved forward, with the pace in some areas even exceeding expectations.