Crypto’s next phase puts selective exposure back in focus

CMC Markets Plc

The cryptocurrency market has entered 2026 in a more complex position than the enthusiasm of the last cycle might have suggested. Bitcoin attracted substantial institutional attention through 2024, helped in large part by the launch of spot Bitcoin ETFs, which broadened access and reinforced the idea that digital assets were moving closer to the financial mainstream. That shift continued into much of 2025, with bitcoin reaching new highs as ETF demand and institutional participation supported the market.

That combination of maturing access and persistent volatility is now central to the investment case. On one hand, the structure around crypto is becoming more recognisable to professional investors. On the other hand, the recent reversal has shown that macro conditions, liquidations and sentiment still exert considerable influence, even when the underlying market architecture looks stronger than before.

There is a growing view that the current weakness could form part of a broader reset within a more institutional phase for bitcoin, especially if prices establish a firmer base during the year. Policy developments in the US also remain relevant. The prospect of a Strategic Bitcoin Reserve based on seized holdings, alongside the possibility of a more supportive policy environment, introduces a potential catalyst that would matter not only for sentiment but also for how bitcoin is framed within portfolios. At the same time, a wide range of valuation outcomes remains possible, underlining that conviction in the asset class still depends heavily on macro stability and regulatory follow-through.

The broader opportunity set extends beyond bitcoin, but with a different risk profile. Ethereum continues to stand out as a leading smart contract blockchain, and its relevance to investors rests on the combination of network usage, ETF inflows, staking products and future upgrades designed to improve scalability. Its appeal is tied to whether activity on the network continues to deepen in ways that support long-term demand for the token. That makes it an asset where positioning depends on both adoption trends and execution risk.

Stablecoins such as Tether represent a different angle again. Their significance lies less in capital appreciation and more in their role as infrastructure within the crypto market. As a dollar-pegged token used for liquidity and settlement, Tether points to an area of the market that may become increasingly important if digital assets continue integrating with more conventional financial channels.

CMC Markets plc (LON:CMCX) is a UK-based financial services company that offers online trading in shares, spread betting, contracts for difference and foreign exchange across world markets. 

Share on:
Find more news, interviews, share price & company profile here for:

Latest Company News

CMC Markets raises its growth ambitions as platform strategy gains pace

CMC Markets has lifted its FY2027 outlook as Australian stockbroking growth, bank partnerships and platform investment strengthen its growth case.

CMC Markets FY26 Presentation: The Platform Is Built, The Partnerships Are In Place, Now We Scale

CMC Markets reports strong FY2026 growth, rising institutional partnerships and a renewed retail push as its platform strategy accelerates.

CMC Markets reports 15% rise in net operating income and strong FY2027 outlook

CMC Markets delivered net operating income of £392.6 million and profit before tax of £101.3 million for FY2026, supported by growth in institutional and B2B partnerships, record Australian stockbroking performance and continued rollout of its multi-asset platform.

CMC Connect broadens institutional Prime Services opportunity

CMC Connect’s new Prime Services platform expands CMC Markets’ institutional offer with integrated execution, financing and post-trade support across global markets.

CMC Markets targets retail traders with wider spectre launch

CMC Markets has opened Spectre to retail clients, offering zero-leverage spread betting with no overnight financing costs and access to multiple markets.

CMC Markets targets Europe’s certificates market with German launch

CMC Markets has entered Germany’s certificates and warrants market, adding a new regulated product line as it expands its European multi-asset strategy.

Search