The CLARITY Act, a cryptocurrency market structure bill currently under discussion in the United States, is expected to lower the barriers to entry for institutional funds and become a turning point for expanding institutional investment.
Goldman Sachs recently analyzed in a report that "regulatory uncertainty remains the biggest factor hindering institutional investor participation in the cryptocurrency market," and that "the market structure bill will serve as an essential institutional foundation for institutional capital inflow." If the bill passes within the first half of this year, it could mark a significant turning point for the cryptocurrency market as a whole.
According to CoinDesk, Goldman Sachs conducted its own survey to gauge institutional investor awareness. The results showed that 35% of respondents cited "regulatory uncertainty" as the biggest investment barrier. While institutional interest is steadily increasing, the actual proportion of assets under management held by cryptocurrencies remains stagnant at an average of 7%.
However, the medium- to long-term trend is positive. Seventy-one percent of institutions surveyed said they plan to increase their cryptocurrency investments within the next 12 months. Goldman Sachs predicted, "If the regulatory environment becomes clearer, the pace of institutional investment growth could accelerate significantly."
The market believes that if the CLARITY Act passes, the roles and responsibilities of the cryptocurrency industry as a whole, including exchanges, custodians, and brokers, will be clarified, significantly improving the legal certainty that institutional investors have been demanding.
Meanwhile, the market structure bill is scheduled to begin full-scale deliberation in the U.S. Senate on the 15th (local time). Depending on the direction of the bill's passage, it is expected to have a significant impact on the institutionalization of the U.S. cryptocurrency market and global capital flows.
