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Asset Manager indicates that the Senate Stablecoin bill could have a greater impact on the cryptography market than the launch of Bitcoin Spot ETF (Stock Exchange Fund), and could trigger a multi -year cryptography bull race.
“Apart from the January 2024 approval of the FNB Bitcoin Spot, it is the most important regulatory development in the history of the crypto”, SHelp Bitwise Matt Hougan’s investment manager in a blog article on May 20. “”It can even be larger.
Hougan said that the legislation should be adopted in summer, paving the way for a long-term sustained rally and supported in cryptographic assets beyond bitcoin “. The biggest beneficiaries will probably be Ethereum (ETH), Solana (soil) and various decentralized financial assets (DEFI) like UNISWAP (UNI) and Aave (Aave), he added.
Hougan’s remarks are intervening after the US Senate has advanced a Stablecoin bill, which many analysts consider an important step towards the legitimization of digital assets in the United States. If signed, the bill will be the first legislation to cover cryptographic regulations.
The stock market capitalization of the stable could go up to 2.5 billions of dollars “in no time” if the stablecoin bill has approved
The stable bill could finally provide transmitters such as Circle, Tether and others, which have worked in a “regulatory gray zone” so far, a framework to follow.
According to Hougan, it will put “a federal weight behind stable. “This will also allow” large banks to issue stablecoins and traders to accept them “.
Progress.
– Matt Hougan (@matt_hougan) May 20, 2025
Hougan said it was “quite surprising” that the Stablecoin market capitalization increased to $ 200 billion without any participation by the largest financial institutions, but added that their combined evaluation would increase to 2.5 billions of dollars “in no time” if the regulations were adopted.
Assets beyond Bitcoin ready for a sustained rally, says Bitwise
If the cryptography market undergoes an extended bull race, Hougan predicts that digital assets beyond Bitcoin want to benefit. He predicts that it is only a matter of time before the institutions move thousands of dollars of assets on the blockchain, which, according to him, will benefit Eth, Sol, Uni and Aave, given their roles established on the market.
“Once we normalize the dollars of travel compared to blockchain networks – and the largest financial institutions in the world participate in this effort – this is a relatively low step to move stocks, bonds and other financial assets on the same rails,” said Hougan.
“This is the fundamental thesis to invest in non-bitcoin cryptographic assets like Ethereum, Solana, etc.,” he said. “”I see the approval of stablecoin regulations normalizing crypto as a financial tool, paving the way for the largest institutions in the world to issue stablecoins and use them for payments. »»
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