Ric Edelman says the CLARITY Act could pull 95% of institutions into crypto for the first time. He estimates 75% of current holders will add to positions. Progress could come by July 4.
Ric Edelman, founder of the Digital Assets Council of Financial Professionals, thinks the proposed CLARITY Act could be the event that finally pulls large institutions into crypto. He told TokenPost that current prices do not reflect the underlying progress in the sector.
"Crypto prices are not reflecting what's happening in the world of crypto," Edelman said, pointing to the growing adoption of blockchain technology and tokenization by major Wall Street firms. BlackRock, JPMorgan, Morgan Stanley, Fidelity, Franklin Templeton, State Street, and Invesco are all expanding their blockchain-based product lines.
Edelman estimated that roughly 95% of institutions with no crypto exposure will make a first allocation this year. Among those already holding digital assets, about 75% plan to increase their positions.
He acknowledged that investors remain cautious. Bitcoin ETF outflows, regulatory uncertainty, and opposition from lawmakers like Elizabeth Warren and Bernie Sanders are all weighing on sentiment.
The CLARITY Act is the potential catalyst. Edelman said the legislation would give traditional finance the regulatory confidence to engage fully. If it passes, he expects a wave of institutional capital. If it stalls, short-term sentiment could weaken.
White House crypto advisor Patrick Witt has suggested progress could come by July 4, though the timeline is uncertain. Edelman remains bullish on the long-term outlook, predicting Bitcoin could eventually reach $150,000 or higher. For now, regulatory developments will drive the market's direction.
State Street (STT) carries an Alpha Score of 75, a Moderate label, and sits in the Financials sector. The firm's ongoing blockchain expansion aligns with the institutional shift Edelman describes.
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