- Publicly traded companies doubled their share of blockchain revenue to 16% in 2026, up from 7% in 2022, while overall industry revenue dropped 28% to roughly $100 billion.
- Coinbase and Circle generated $3.3 billion combined in blockchain revenue during the first half of 2026, and the top six public firms accounted for 50–60% of the group’s total.
- For the first time, revenue from real-world economic activity—including tokenized assets and payments—surpassed blockchain infrastructure revenue in Q3 2026, hitting $5.3 billion.
Publicly traded companies captured 16% of blockchain industry revenue in 2026, more than doubling their 7% share from 2022, according to a new report from crypto investment firm 1kx. This shift occurs as overall blockchain revenue is projected to fall 28% year over year to roughly $100 billion in 2026, based on data from more than 2,600 protocols and 104 public companies’ earnings through the third quarter.
The researchers attribute the growing public-company share partly to new listings, such as Circle‘s 2025 stock market debut, and robust revenue growth among existing firms. The 10 largest publicly traded companies in the study doubled their blockchain-related revenue over the past three years. Consequently, Coinbase and Circle generated approximately $3.3 billion in combined blockchain revenue in the first half of 2026, while publicly traded Bitcoin miners earned roughly $2 billion and traditional financial players—including JPMorgan, BlackRock, CME Group, VISA, and Robinhood—accounted for another $1.1 billion. However, revenue remains concentrated, with the six largest public firms contributing about 50–60% of the group’s total.
Meanwhile, revenue from broader economic activity surpassed blockchain infrastructure revenue for the first time in Q3 2026, reaching $5.3 billion compared with $5.1 billion. This category—encompassing tokenized assets, payments, and prediction markets—grew 58% year over year in the first half of 2026. Together with institutional adoption, it accounted for 33% of total blockchain revenue in Q3, with the report projecting a 30% full-year share. Data from RWA.xyz shows the value of distributed tokenized real-world assets rose roughly 51% over the past year to $39.54 billion, while tokenized equities surged 471% to $3.77 billion over the same period.
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