Grayscale bets CLARITY Act unlocks institutional flood

Pandl identified four networks that he expects to draw the biggest inflows once the bill becomes law: Ethereum, Solana, BNB, and Canton Network. He argued that clear regulation removes the legal risk that has blocked large allocators. The networks, he said, are best positioned to capture institutional demand because of their existing infrastructure and developer activity.

Polymarket bettors put the probability of passage in 2026 at roughly 67% as of May. Senate Republican aides said updated bill text with the ethics language is being prepared. The ethics provisions address concerns about conflicts of interest among officials who might hold or trade digital assets while overseeing their regulation.

Grayscale's public backing carries weight. The firm manages over $20 billion in digital asset products and has been among the most vocal advocates for a clear US regulatory framework. Pandl's focus on specific networks suggests the firm is already positioning for a post-CLARITY market where institutional capital flows to the most liquid, well-developed chains.

The bill's path through the Senate remains uncertain. The ethics language is the last major hurdle, and negotiators have not disclosed a timeline for releasing the updated text. A floor vote before the November midterm elections would give supporters the cleanest legislative window.