Key Takeaways
Grayscale named Ethereum, Solana, BNB Chain, and Canton Network as leading beneficiaries of clearer U.S. digital-asset rules.Institutional demand could grow around tokenization, stablecoins, DeFi, and compliant blockchain infrastructure.Regulatory debates may influence where capital flows across competing digital finance networks.
Crypto Networks to Benefit From CLARITY Act Passage
Grayscale shared a research note on May 22, 2026, examining which blockchain networks could gain from the potential passage of the CLARITY Act and a clearer U.S. market structure framework. The report, titled “The Blockchains that Stand to Benefit from Regulatory Clarity,” identified Ethereum, Solana, BNB Chain, and Canton Network as leading candidates for institutional attention tied to tokenized assets, decentralized finance, and stablecoin infrastructure.
Grayscale Head of Research Zach Pandl framed the outlook around activity already happening on-chain. Ethereum led the tokenized-asset category, supported by liquidity, developers, and established decentralized finance markets. Solana and BNB Chain ranked prominently for transaction activity, stablecoin use, and decentralized applications. Canton Network stood out for privacy-focused infrastructure designed for regulated financial institutions and tokenized real-world assets. Avalanche, Base, Arbitrum, Hyperliquid, and Tron also appeared in Grayscale’s broader list. The head of research detailed:
“As regulatory clarity improves, institutional capital will likely target the leading chains for tokenized assets and DeFi. Today, these are Ethereum, Solana, BNB Chain, and Canton Network.”
The report linked regulatory progress to institutional demand for tokenization and stablecoins without treating every blockchain the same. Grayscale placed Ethereum, Solana, BNB Chain, and Canton Network in the first group, while noting that bitcoin also remains important. BTC serves as a major collateral asset and reserve instrument, even though Bitcoin has less native smart-contract functionality than Ethereum or Solana.
CLARITY Act Debate Shapes Crypto Market Structure
Lawmakers continued debating digital-asset legislation in 2026 as market participants watched the CLARITY Act and related proposals. The Senate Banking Committee advanced the bill on May 14, 2026, in a 15-9 vote. The proposals focused on token classifications, registration pathways, and how oversight responsibilities could be divided between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Those measures would help define how digital assets are issued, traded, and supervised in the United States.
Wider crypto-market research has also connected regulation with institutional adoption. Grayscale’s 2026 outlook pointed to regulated stablecoins, spot crypto exchange-traded products (ETPs), and tokenized financial assets as key themes for traditional finance. That broader view supports the May 22 note’s focus on networks with existing users, liquidity, and financial applications.
Pandl also cited additional networks positioned to benefit from clearer rules, including hybrid networks like Avalanche and Ethereum Layer 2 networks such as Base and Arbitrum, specialized blockchains like Hyperliquid, and stablecoin-focused networks like Tron. He wrote:
“We believe each of these networks should benefit from regulatory clarity as well.”
Institutional adoption trends are reshaping competition among blockchain networks with different operating models. Ethereum, Solana, BNB Chain, and Canton Network target distinct segments of digital finance, from public decentralized applications to permissioned institutional systems. Grayscale’s research placed regulatory clarity at the center of that competition, with capital potentially flowing first toward networks already supporting tokenization, DeFi, stablecoins, and compliance-oriented financial infrastructure.
