Digital assets posted a third consecutive quarter of losses in the second quarter of 2026, the longest losing streak since the 2022 bear market, as institutional capital turned to AI stocks and Bitcoin ETFs recorded their largest quarterly outflow since their launch. Our report examines the causes of this divergence, the areas where structural adoption has continued despite everything, and the signals to watch for in the third quarter.
Digital assets posted a third consecutive quarter of losses in the second quarter of 2026, the longest losing streak since the 2022 bear market, as institutional capital turned to AI stocks and Bitcoin ETFs recorded their largest quarterly outflow since their launch. Our report examines the causes of this divergence, the areas where structural adoption has continued despite everything, and the signals to watch for in the third quarter.
