Grayscale names 4 Clarity Act winners after 15-9 vote

Grayscale named four blockchains as the top Clarity Act winners in a research note published on May 22.

Grayscale published a research note on May 22 identifying Ethereum, Solana, BNB Chain, and Canton Network as the four blockchains best placed to absorb institutional capital once the Clarity Act is signed into law. “Regulatory clarity is coming, and a rising tide will likely lift digital assets broadly,” Grayscale wrote.

The four chains were selected because they lead across three key metrics: tokenized asset value, stablecoin supply and transaction volume, and DeFi total value locked. Ethereum leads in tokenized assets, followed by BNB Chain and Solana, while Canton Network rounds out the list as the leading institutional settlement network.

Why Grayscale puts Canton Network ahead of Cardano

Canton Network’s inclusion over Cardano corrects some initial misreporting from other outlets. Canton holds over $348 billion in tokenized real-world asset value, hosts the DTCC’s tokenized Treasury pilot, and counts JPMorgan, HSBC, and Visa among its validators.

“$350 billion settles daily on Canton, with over $6 trillion in tokenized real-world assets and institutions like JPMorgan and DTCC building in production,” the Canton Network said recently.

Zach Pandl, Grayscale’s head of research, noted Bitcoin will also benefit from regulatory clarity as the industry’s most secure asset. Crypto.news has reported on Grayscale’s December 2025 outlook predicting bipartisan legislation would unlock a new institutional era for digital assets.

What the secondary tier of Clarity Act beneficiaries looks like

Grayscale also flagged Avalanche, Base, Arbitrum, Hyperliquid, and Tron as networks with significant on-chain finance exposure that would benefit from greater regulatory clarity. These chains sit below the primary four in tokenized asset value but have established DeFi ecosystems.

Crypto.news has tracked Grayscale’s active ETF expansion strategy across multiple chains, reflecting the same analytical framework that underpins its Clarity Act beneficiary list.

The Clarity Act cleared the Senate Banking Committee on a 15-9 bipartisan vote on May 14. It now needs a Senate floor vote, House reconciliation, and a presidential signature before Grayscale’s picks become regulated beneficiaries.

Crypto.news has covered the compressed legislative calendar that gives the bill its final window before the 2026 midterms. The Ethereum (ETH) page tracks price reaction as the bill’s prospects develop.