Crypto investors and executives are prioritising infrastructure over decentralised finance as liquidity constraints and market depth emerge as key barriers to institutional adoption in 2026.
The findings come from a survey published by CfC St. Moritz, based on responses from 242 senior decision-makers attending its invitation-only event in January.
According to the survey, 85% of respondents ranked infrastructure as their top funding priority, ahead of DeFi, compliance, cybersecurity and user experience.
Respondents identified liquidity shortages, settlement capacity and insufficient market depth as the most significant risks preventing larger pools of institutional capital from entering crypto markets.
While 84% described the macroeconomic environment as better than neutral for crypto growth, many said existing market plumbing remains inadequate for large-scale capitalisation.
The survey also showed expectations for innovation in 2026 remain positive but less speculative, signalling a shift toward execution-focused development such as custody, clearing, stablecoins and tokenisation.
Sentiment on US regulation improved sharply, with respondents ranking the US as the second-most favourable crypto jurisdiction after the United Arab Emirates, even as expectations for crypto IPOs cooled following a strong 2025.