At CoinShares, we believe it's critical to define, analyze, and disseminate data to tell the story of why this industry matters and how it might impact industries, markets, and the broader world.

As investors, we take this one step further and use this data, our insights, and our expertise to identify who, where, and when this change might happen.

This report describes the macro environment, trends, and companies that are driving the space, and provides an outlook for the broader crypto ecosystem.