Grayscale – a digital asset management firm – has just identified four blockchains that are likely to attract the largest institutional investment if the CLARITY Act is passed. That list includes Ethereum, Solana, BNB Chain, and Canton Network.
The Digital Asset Market Clarity Act passed the U.S. Senate Banking Committee with a 15-9 vote on May 14, 2024. This bill, which would Chia oversight of the crypto market between the SEC and the CFTC, has now moved to the Senate for a full vote.
Why Grayscale chose four blockchains that would benefit from the CLARITY Act.
Grayscale states that Ethereum (ETH ) leads in terms of fully on-chain chain . This is followed by BNB Chain and Solana (SOL) .
These three networks also lead in terms of total stablecoin supply and total value locked in DeFi projects, according to Grayscale's assessment.
Grayscale reveals 4 altcoins that will benefit most from the CLARITY Act.These four blockchains were also included in Grayscale's list of Tokenize trends earlier this year. Grayscale believes that managed Capital will prioritize flowing to blockchains with the most developed on-chain financial ecosystems.
This benefits blockchains that are already ready to integrate with traditional Capital flows.
“The legal framework is becoming clearer, and this is an opportunity for the entire digital asset sector to thrive. Blockchains leading the way in Tokenize assets, stablecoins, and DeFi such as $ETH, $ SOL, $ BNB, and $CC will be at the center,” Grayscale Chia on social media.
Follow us on X for daily breaking news updates.
Canton Network is developing in its own unique direction.
The Canton Network (CC) is a special case among these four blockchains. It is a Layer 1 blockchain focused on privacy and built specifically for regulated financial institutions. Recently, the launch of the Canton Network ETF has expanded opportunities for retail investors to access this ecosystem.
Currently, Canton Network is the testing ground for DTCC's Tokenize of US Treasury bonds, with validators including JP Morgan, HSBC, and Visa.
“Wall Street is already on the blockchain. $350 billion is paid out daily on Canton, with over $6 trillion in Tokenize real assets and the participation of institutions like JPMorgan and DTCC building the actual system,” the network recently Chia .
Grayscale has also highlighted blockchains such as Avalanche, Base, Arbitrum, Hyperliquid, and TRON as altcoins that could benefit from the new regulatory framework.
The next vote in the U.S. Senate will show whether Capital flows will move quickly under the new policy. The Senate Banking Committee vote on May 14, 2024, is only the first step.
For this bill to ultimately pass, it needs at least 60 affirmative votes, and its success will depend on the support of Democratic senators.
Subscribe to our YouTube channel for in-depth XEM from leaders and journalists in the crypto field.
