Pantera Capital Predicts 2026 Crypto Financial Reserves to Undergo Harsh Restructuring

KuCoinFlash

Release Time: 01/22/2026 13:32:54

Summary

Pantera Capital warns that crypto financial reserves will face significant restructuring by 2026. Only the top firms are expected to continue buying Bitcoin and ETH, while smaller entities may exit the market or be acquired. Recent ETH price action indicates major purchases by BitMine and Trend Research. BitMine acquired 92,511 ETH ($277 million), representing 3.48% of the total ETH supply. Trend Research used Aave loans to purchase 41,500 ETH ($126 million). Additionally, the strategy added 22,306 BTC last week ($2.13 billion), bringing its total BTC holdings to 709,715 BTC, valued at $53.9 billion. Overall, financial reserves now hold 1.13 million BTC, or 5.4% of the total supply. ETHZilla sold $74.5 million worth of ETH in December to repay debts. For altcoins, market concentration remains a key factor to watch.

Odaily Planet News: Pantera Capital stated that by 2026, digital asset custody firms will face a brutal restructuring. Only a few well-capitalized leaders will continue to accumulate Bitcoin and ETH, while smaller companies will either be acquired or eliminated from the market.

According to monitoring by Pantera Capital, the accumulation of Bitcoin and ETH is currently highly concentrated. BitMine, the largest holder of ETH, has purchased 92,511 ETH since the beginning of the year, with a total value of approximately $277 million, representing 3.48% of the total ETH supply. Trend Research has acquired 41,500 ETH by 2026, valued at around $126 million, with funds obtained through lending on Aave.

Regarding Bitcoin, Strategy purchased 22,006 Bitcoin (BTC) last week for approximately $2.13 billion. To date, Strategy has accumulated a total of 709,715 BTC, with a total cost of about $53.9 billion, resulting in an average purchase price of $75,979. Data indicates that enterprise financial reserve addresses collectively hold approximately 1.13 million BTC, representing 5.4% of the total supply. Additionally, ETHZilla sold $74.5 million worth of ETH at the end of December to repay debts.

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