The CLARITY Act has been stuck in the Senate for months - now things could move quickly. A vote in the Banking Committee is scheduled for May, but the tight schedule (Memorial Day, summer break, election campaign) is putting the project under massive pressure.
What does this mean for the market?
- $ETH (+0,69 %) & Altcoins: biggest winners if passed, as regulatory clarity (especially for staking and DeFi)
- $BTC (+1,11 %): hardly any additional effect, status already largely clarified
If the law fails or is postponed to 2027, there is a clear risk-off for altcoins (-15 to -25% vs. BTC).
Macro situation remains tense:
- Outflows from crypto ETPs (USD 605 million this week)
- At the same time, strong inflows into #bitcoin & blockchain stocks (USD 624 million in four weeks)
Interpretation:
Investors reduce direct crypto exposure but build structural positions via equities (e.g. beneficiaries of stablecoins and AI)
Conclusion:
Caution in the short term - clear capital rotation into the sector continues in the long term.
(Text: James Butterfill, CoinShares' Head of Research)
$CETH (+1,21 %)
$BCHS (+0,79 %)
