Grayscale identifies Ethereum, Solana, BNB Chain, and Canton Network as the four blockchains best positioned to attract institutional capital under the CLARITY Act.
Asset manager Grayscale has published a research note identifying Ethereum, Solana, BNB Chain, and Canton Network as the four blockchain ecosystems best positioned to benefit from the CLARITY Act, the landmark U.S. crypto market structure bill that cleared the Senate Banking Committee on May 14 in a 15-9 vote.
In a report released on May 22, Grayscale analyzed which blockchain networks stand to gain the most if the Digital Asset Market Clarity Act becomes law. The firm placed Ethereum at the top of its list, citing its deep liquidity, large developer base, and dominant role in tokenized real-world assets and decentralized finance.
Solana and BNB Chain were highlighted for their high transaction throughput, active decentralized application ecosystems, and significant stablecoin usage. Canton Network, a relative newcomer, was identified for its privacy-focused architecture designed specifically for regulated financial institutions and tokenized real-world assets.
Grayscale also named secondary beneficiaries including Avalanche, Ethereum Layer 2 networks such as Base and Arbitrum, the DeFi-focused Hyperliquid, and stablecoin-heavy Tron.
The CLARITY Act would classify certain digital assets as commodities rather than securities, shifting primary oversight from the SEC to the CFTC. This distinction is critical for networks like Ethereum and Solana, where regulatory ambiguity has slowed institutional adoption.
Grayscale's assessment matters because the firm manages tens of billions in crypto assets and its research signals where institutional capital is likely to flow once regulatory guardrails are in place. Networks with established tokenization infrastructure, DeFi protocols, and stablecoin liquidity are expected to capture the first wave of compliant institutional activity.
The CLARITY Act still requires a full Senate floor vote, reconciliation with any House version, and a presidential signature before becoming law. Market participants are watching the legislative timeline closely, with some analysts expecting a floor vote before the August recess. How quickly institutional products and tokenized offerings emerge on the named networks will depend on final regulatory details and implementation timelines.
Grayscale's report underscores a growing consensus that regulatory clarity will concentrate institutional capital in a handful of established blockchain ecosystems. As the CLARITY Act moves through its remaining legislative steps, the four named networks may see increased developer activity and institutional interest. This is a developing story.
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Disclaimer: News content is for informational purposes only and should not be considered financial advice. Market conditions can change rapidly. Always conduct your own research.
