Large investors are doubling down on crypto, but getting a lot pickier about risk

Most institutional investors plan to increase allocations even as concerns around regulation and risk management continue to grow. What to know : A new Coinbase and EY-Parthenon survey finds that 73% of institutional investors plan to increase their digital asset allocations in 2026, even as recent volatility prompts them to tighten risk management and liquidity controls. Institutions are shifting toward more permanent crypto operating models, favoring spot ETFs and other registered vehicles while prioritizing governance, compliance, security and robust custody over cost. Regulatory clarity remains both the main catalyst and chief obstacle to further institutional adoption, as investors watch U.S. policy developments and increasingly focus on stablecoins, tokenization, and their potential to reshape trading, clearing, and settlement.