Franklin Templeton, with $1.79 trillion in assets, endorses the CLARITY Act. The bill faces a 60-vote Senate hurdle before the August recess, with Galaxy Research lowering odds to 30%.
Franklin Templeton, which oversees about $1.79 trillion in assets, has endorsed the CLARITY Act, the latest major Wall Street firm to back the crypto market structure bill. The asset manager posted its support on X, saying the legislation would clarify how digital assets are regulated and what protections apply to investors.
Franklin Templeton joins BlackRock, Fidelity, Goldman Sachs and Charles Schwab in backing the bill. Together, the five firms manage more than $30 trillion in assets. Goldman Sachs, with an Alpha Score of 62, and Charles Schwab, at 63, are among the institutional backers. Goldman Sachs CEO David Solomon has also publicly supported the bill, as AlphaScala reported earlier.
The CLARITY Act would split regulatory authority over digital assets between the Securities and Exchange Commission and the Commodity Futures Trading Commission. Tokens deemed securities would fall under SEC oversight; those classified as commodities would go to the CFTC. The bill passed the House in July 2025 by a 294-134 vote and cleared the Senate Banking Committee 15-9 in May.
Passage in the full Senate requires 60 votes, a threshold that needs bipartisan support. Republicans added an amendment that would temporarily restrict crypto earnings for certain federal officials, including the president and members of Congress. Some Democrats have said the restrictions are too weak.
Senate Majority Leader John Thune has warned that the bill may not pass before the August recess. Galaxy Research, the research arm of Galaxy Digital, has lowered its estimate of the bill's passage odds to 30% in 2026.
Franklin Templeton has made several moves into blockchain and tokenization in recent years. The firm has launched tokenized funds and partnered with infrastructure providers to bring assets onchain. Its public endorsement of the CLARITY Act adds to the pressure on lawmakers to act before the deadline.
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