Speaking from the World Economic Forum in Davos and in separate interviews with CNBC, Brad Garlinghouse said he expects the cryptocurrency market to push to new all-time highs before the end of the year.
His outlook reflects a shift in how crypto is being positioned globally, driven less by retail speculation and more by institutional participation and regulatory change.
Garlinghouse pointed to two developments he views as decisive. The first is the deepening involvement of large asset managers such as BlackRock and Vanguard, which he argues has not yet been fully reflected in market pricing. The second is the progression of U.S. legislation that could formalize how digital assets are treated within the financial system.
Regulation as a Structural Catalyst
Garlinghouse highlighted the GENIUS Act and the CLARITY Act as central to his thesis. He expects the CLARITY Act to pass in the first half of 2026, creating a framework that would allow banks to hold digital assets directly on their balance sheets. In his view, that shift would represent a structural unlock, reducing uncertainty that has historically constrained institutional adoption.
Rather than framing regulation as a headwind, Garlinghouse described it as a prerequisite for broader participation. Clear rules, he argued, would enable traditional financial institutions to engage with crypto markets at scale, moving capital from observation into deployment.
Institutional Adoption and Market Pricing
According to Garlinghouse, interest from major financial players is already visible but not yet fully absorbed by the market. He suggested that current prices do not reflect the cumulative impact of institutional entry, particularly as large asset managers begin integrating crypto exposure into diversified portfolios.
While he did not provide a specific price target for XRP, Garlinghouse reiterated a longer-term view on Bitcoin, forecasting it could reach $180,000 by late 2026. He framed that projection as a function of institutional flows and regulatory normalization rather than short-term momentum.
Current Market Backdrop
His comments come as the market continues to recover from a volatile start to the year. As of January 25, 2026, XRP was trading around $1.90, down from its early-January high near $2.40. Bitcoin, meanwhile, was changing hands near $89,000, well below its October 2025 peak of $126,000.
The timing is also notable given the resolution of the long-running Ripple–SEC case, which concluded in August 2025. That outcome removed a major legal overhang for Ripple and XRP, allowing Garlinghouse to speak from a position of regulatory clarity that was absent for much of the prior cycle.
Overall, Garlinghouse’s outlook reflects a market narrative that is increasingly shaped by institutions, legislation, and balance-sheet adoption rather than purely speculative cycles. Whether those forces are sufficient to drive new highs remains to be seen, but his comments underscore how the center of gravity in crypto continues to shift.
