Digital Assets Look Better in H2 2026 Than H1 | Hana Securities Corporate Analysis Lab Senior Researcher Lee Jun-ho

2026년 디지털 자산 상반기보다 하반기에 좋습니다! | 하나증권 기업분석실 이준호 선임연구원 [글로벌 인터뷰]

Watch on YouTube ↗ | January 12, 2026 at 22:44 | 39:38 | 3PRO TV (삼프로TV)

Speakers

Lee Jun — Senior Researcher, Hana Securities Research Center

Vincent

Summary

Lee Jun-ho, a senior researcher at Hana Securities Corporate Analysis Lab, discusses the 2026 outlook for digital assets. He argues opportunities outweigh risks and are concentrated in H2, driven by delayed U.S. crypto regulation, possible sovereign Bitcoin buying, blockchain/RWA tokenization, stablecoin growth, and Korean institutional custody. He favors Bitcoin, Ethereum, blockchain/RWA infrastructure, a revived stablecoin theme, and NAVER as a domestic beneficiary.

Digital-asset opportunities are seen as larger than risks in 2026, especially in H2.
Delayed U.S. stablecoin, GENIUS, and CLARITY Act implementation are key catalysts.
Bitcoin may stay rangebound near term but could break higher on sovereign buying and regulation.
Ethereum is favored as the main chain for stablecoins and RWA tokenization.
Blockchain infrastructure and tokenized assets/RWA are expected to expand.
The stablecoin theme may revive once regulation and institutional buying become concrete.
NAVER is highlighted as a Korean beneficiary through Dunamu/Upbit Biz custody and merger exposure.
The opening segment discusses Fed independence, rate expectations, and market fundamentals.

Ideas

Lee Jun Senior Researcher, Hana Securities Research Center 3:48

Digital asset opportunities peak in H2 2026.

The digital-asset market offers more opportunity than risk in 2026, with the larger opportunity expected in H2. The U.S. stablecoin/GENIUS and CLARITY Acts have passed or are being debated, but implementation has been delayed, so their effects should become visible from H2 2026 through Q4/1Q next year. This should revive institutional and sovereign adoption and tokenization.

Lee Jun Senior Researcher, Hana Securities Research Center 7:36

Bitcoin rangebound now, upside catalysts in H2.

Bitcoin has been in a directionless sideways phase after the 18-month post-halving pattern, and the next roughly six months may remain rangebound. However, he expects 2026 triggers to break this pattern and restore an uptrend: possible direct U.S. government Bitcoin purchases, global sovereign adoption, crypto regulatory institutionalization, and broader blockchain/tokenization infrastructure. He recommends gradual accumulation and sees Bitcoin as a strategic asset similar to gold if governments start buying.

Lee Jun Senior Researcher, Hana Securities Research Center 18:51

Blockchain infrastructure and RWA tokenization grow.

He says to focus on blockchain as the real infrastructure layer, not only Bitcoin as a store of value. Tokenized assets and crypto financial networks are already being built: Robinhood launched tokenized U.S. stocks in Europe with 200+ tokens; Nasdaq filed with the SEC; the CLARITY Act would clarify which regulator oversees crypto products; xStocks-type platforms allow tokenized stocks via Telegram and USDT. As regulation clarifies, RWA/tokenized assets and derivatives should become more active, especially in H2 2026, so crypto financial infrastructure should expand.

Lee Jun Senior Researcher, Hana Securities Research Center 27:22

Ethereum benefits from RWA and stablecoin growth.

Many market participants expect 2026 to be Ethereum's year. RWA/tokenization and stablecoin growth should be centered on Ethereum, which is the main chain for over 50% of stablecoins and over 40% of RWA. After the Merge, ETH supply issuance stopped, creating a deflationary model similar to Bitcoin's capped-supply narrative. As stablecoin issuance and tokenized assets grow, ETH value should rise and likely move with Bitcoin. He says focusing on Bitcoin and Ethereum is safer than lower altcoins in 2026.

Lee Jun Senior Researcher, Hana Securities Research Center 35:41

NAVER benefits from crypto custody, Dunamu merger.

Among Korean digital-asset-related equities, he focuses on NAVER, which he covers. If the Digital Asset Basic Act and stablecoin rules pass, institutions and banks will want to buy Bitcoin and will need custody accounts; Upbit/Dunamu have announced Upbit Biz and are preparing B2B crypto custody. NAVER and Dunamu are already prepared, and the NAVER-Dunamu merger date is June 30, so H2 2026 should be a key period for this partnership. Therefore NAVER is the most notable domestic beneficiary of crypto institutionalization.

Lee Jun Senior Researcher, Hana Securities Research Center 37:20

Stablecoin theme revives with regulation in H2.

The stablecoin theme has gone dormant due to regulatory delay, but it should revive once the government bill is prepared and passed and actual institutional crypto buying begins. RWA/tokenized asset trading uses stablecoins, so issuance should grow as the RWA market opens; this supports Ethereum and crypto market interest, with the domestic and global catalysts concentrated in H2 2026.

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This 3PRO TV (삼프로TV) video, published January 12, 2026, features Lee Jun discussing BITO, BTC, BLCN, RWA TOKENIZATION, ETH, 035420.KS, Stablecoin theme. 6 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Lee Jun · Tickers: BITO, BTC, BLCN, RWA TOKENIZATION, ETH, 035420.KS, Stablecoin theme