In BlackRock’s recently released 2026 market outlook, the world’s largest asset management company has revealed a key signal: as cracks appear in the traditional financial system, Wall Street is accelerating its shift toward digital assets.

The core logic of the report is straightforward: U.S. federal debt is about to break through the $38 trillion mark. Such a scale of debt expansion will make the market increasingly fragile, and conventional risk-hedging methods may no longer be as effective. Against this backdrop, institutional funds are beginning to focus on alternative assets like cryptocurrencies.

Samer Cohen, BlackRock’s Global Head of Markets, put it even more bluntly: Bitcoin and stablecoins are no longer fringe assets—they are becoming critical hubs connecting the traditional financial system with digital capital flows.

Although the report is not optimistic about the outlook for U.S. Treasuries, from another perspective, it actually outlines a clear path for institutional funds to flow into the crypto market: as certainty in the old system weakens, the appeal of new asset classes naturally rises.