$11.2 Billion Raised in Crypto During H1 2026: Capital Shifts to Licensed Companies

The crypto sector raised $11.2 billion across 377 announced funding rounds in the first half of 2026, signaling a shift in capital flow from permissionless and ungoverned projects toward regulated businesses.

Dubai-based law firm NeosLegal analyzed crypto investments for the January-June 2026 period. According to the firm’s founder, Irina Heaver, the resulting data indicates that the ethos of operating without a licensing authority has taken a backseat for investors.

The largest share of capital went to payments and stablecoins: $3.7 billion. Prediction markets ranked second with $2 billion, while crypto exchanges and trading platforms raised $1.7 billion. Heaver noted that these three sectors require regulatory approval to operate.

Prediction markets attracted institutional capital

Prediction markets became one of the most visible targets for institutional interest. Kalshi’s $1 billion round brought together investors such as Sequoia Capital, Morgan Stanley, Ark Invest, and a16z. Polymarket’s $600 million investment came from Intercontinental Exchange, the owner of the New York Stock Exchange. Prediction markets secured funding throughout all six months, reaching a total of 34 rounds.

Institutional capital flow was also evident in acquisitions. Mastercard acquired stablecoin payment firm BVNK for $1.8 billion; BlackRock, Apollo, HSBC, Goldman Sachs, and Nasdaq also invested in regulated crypto companies. Sigma Capital executive Vineet Budki stated that licensing has become more than just a compliance cost—it is now a competitive advantage.

However, Bitget CEO Gracy Chen noted that institutional money and user demand might not always align. According to Chen, 95 percent of the volume in tokenized stocks comes from retail users trading outside the platforms that receive the largest investments. NeosLegal noted that the total may underrepresent actual activity, as it treated unannounced rounds as zero.