Research

Research

Whether you're new to crypto or a seasoned pro, our library of educational resources will deepen your understanding of the technology that's changing the world.

January 2026: Bitcoin and the Debasement Trade
January 2026: Bitcoin and the Debasement Trade

Key Takeaways The debasement trade — the depreciation of fiat currencies against scarce assets — moved into high gear in January, but Bitcoin’s price declined. We think the disconnect reflects setbacks on crypto legislation and renewed discussion about the risk to blockchains from quantum computers.

Investing in Smart Contract Platforms
Investing in Smart Contract Platforms

Key Takeaways Smart contract platforms extend the original vision for blockchains from networks for peer-to-peer transactions to infrastructure for financial applications. They offer a new paradigm for global finance based on decentralization and open-source software. Smart contract platforms are t

December 2025: Winter Freeze
December 2025: Winter Freeze

Key Takeaways: Crypto prices and fund flows were largely range-bound in December, but both prices and trading activity rebounded in the first days of 2026. Investors sold Bitcoin and Ether exchange-traded products (ETPs) in December, possibly to realize capital losses in 2025; XRP ETPs saw sizable

Crypto Sectors Quarterly: A Preference for Privacy
Crypto Sectors Quarterly: A Preference for Privacy

Q4 2025 marked a pause in crypto’s momentum, as markets digested earlier gains and recalibrated expectations for the year ahead. Returns were negative across all six Crypto Sectors in Q4 2025, following gains across all market segments in Q3. Crypto Sectors is our proprietary framework for organizin

Bittensor on the Eve of the First Halving
Bittensor on the Eve of the First Halving

Key Takeaways Bittensor is a decentralized network for artificial intelligence (AI) development — an open network where anyone can create, train, and access AI. Amid growing concentration of capital, power, and decision-making in AI, Grayscale Research believes decentralized alternatives like Bitten

2026 Digital Asset Outlook: Dawn of the Institutional Era
2026 Digital Asset Outlook: Dawn of the Institutional Era

Click Here To Download The Full Report Key Takeaways We expect 2026 to accelerate structural shifts in digital asset investing, which have been underpinned by two major themes: macro demand for alternative stores of value and improved regulatory clarity.Together, these trends should bring in new ca

Staking 101: Secure the Blockchain, Earn Rewards
Staking 101: Secure the Blockchain, Earn Rewards

Blockchains secure themselves in one of two ways: Proof of Work (PoW) and Proof of Stake (PoS). PoW relies on energy and machines, while PoS relies on staking and voting. Bitcoin, the largest crypto asset by market capitalization, utilizes PoW. The majority of other well-known blockchains utilize PoS

November 2025: What It Takes to HODL
November 2025: What It Takes to HODL

Key Takeaways: Bitcoin investors have enjoyed high returns but have also stomached many challenging drawdowns. The ~30% drawdown since early October is in line with the historical average and the ninth meaningful pullback during the latest bull market.[1] Grayscale Research does not believe Bitcoin

The LINK Between Worlds
The LINK Between Worlds

Key Takeaways: Chainlink is the critical connective tissue between crypto and traditional finance — between the on-chain world and the off-chain world. Grayscale believes that Chainlink’s suite of software technologies will be central for many applications of blockchain technology, including tokeniz

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