Grayscale named four blockchains as major winners from the Clarity Act in a research note published on May 22.
Summary
- Grayscale named Ethereum, Solana, BNB Chain and Canton Network as the four chains best positioned for institutional capital following the passage of the Clarity Act.
- The four chains lead the market in terms of tokenized asset value, stablecoin supply, and total DeFi value locked, which Grayscale uses as its primary ranking criteria.
- Grayscale also named Avalanche, Base, Arbitrum, Hyperliquid and Tron as secondary beneficiaries with significant on-chain financial exposure.
Grayscale released a research note on May 22 identifying Ethereum, Solana, BNB Chain and Canton Network as the four blockchains best positioned to absorb institutional capital once the Clarity Act is enacted. “Regulatory clarity is coming, and a rising tide will likely increase digital assets broadly,” Grayscale wrote.
The four chains were selected because they dominate on three key metrics: tokenized asset value, stablecoin supply and trading volume, and total DeFi value locked. Ethereum leads the tokenized assets, followed by BNB Chain and Solana, while Canton Network rounds out the list as the leading institutional settlement network.
Why Grayscale places Canton Network before Cardano
The inclusion of Canton Network on Cardano corrects some initial misinformation from other media outlets. Canton holds over $348 billion in tokenized real asset value, hosts the DTCC tokenized treasury pilot, and counts JPMorgan, HSBC, and Visa among its validators.
“$350 billion is moving into Canton daily, with over $6 trillion in real-world token assets and institutions like JPMorgan and DTCC in production,” the Canton Network said recently.
Zach Pandl, head of research at Grayscale, noted that Bitcoin would also benefit from regulatory clarity as the industry’s most secure asset. Crypto.news reported on Grayscale’s outlook for December 2025, predicting that bipartisan legislation would usher in a new institutional era for digital assets.
What the high school level looks like for Clarity Act beneficiaries
Grayscale also flagged Avalanche, Base, Arbitrum, Hyperliquid and Tron as networks with significant on-chain financial exposure that would benefit from greater regulatory clarity. These chains fall below the top four in terms of tokenized asset value, but have established DeFi ecosystems.
Crypto.news has been tracking Grayscale’s active ETF expansion strategy across multiple chains, reflecting the same analytical framework that underpins its list of Clarity Act beneficiaries.
The Clarity Act was greenlit by the Senate Banking Committee in a bipartisan 15-9 vote on May 14. It now needs a vote in the Senate, reconciliation in the House and a presidential signature before Grayscale’s picks become regulated beneficiaries.
Crypto.news has covered the compressed legislative timeline that gives the bill its final window before the 2026 midterms. The Ethereum (ETH) page tracks price reaction as the bill’s prospects develop.
