Bernstein "Tokenization 'supercycle' will open an upswing for digital assets in 2026"

Wall Street asset manager Bernstein said a 'supercycle' centered on tokenization will open the next upswing in the digital assets (cryptocurrencies) market in 2026.

According to crypto-focused media CoinDesk on the 7th (local time), Bernstein said in a recent report that "after the adjustment phase at the end of 2025, the digital assets market has already bottomed out," and "in 2026, tokenization will be the key driver leading structural growth across the market."

Bernstein said it expects tokenization to spread fully across stablecoins, capital markets, and prediction markets. It especially assessed that demand for blockchain-based infrastructure will rapidly expand as traditional financial assets and digital assets become integrated.

For Bitcoin (BTC), it set a 2026 target of $150,000 and projected it could reach $200,000 in 2027, the peak of the next cycle. Bernstein explained that this upside scenario is based on structural adoption expansion rather than short-term speculative demand.

The report also analyzed that related stocks will emerge as major beneficiaries as the digital asset ecosystem expands. It evaluated that listed companies linked to crypto trading and infrastructure, such as Coinbase and Robinhood, are likely to directly benefit from the tokenization trend.

Regarding the stablecoin market, it forecast supply would reach $420 billion in 2026, a 56% increase year-on-year. Bernstein analyzed that stablecoins will become a core intermediary for tokenized financial products and payment systems, lifting overall liquidity in the digital asset market.

The market is paying attention to Bernstein's outlook because it defines the next phase of the digital asset market not as a simple price rebound but as a structural growth stage combined with real-world finance.