Bitwise CIO: Crypto Rally Can Persist Despite CLARITY Act Failure

Bitwise Chief Investment Officer Matt Hougan argues that the crypto market rally is not dependent on the passage of the CLARITY Act. Despite the bill's failure in the US Senate, Hougan notes that Bitcoin's price growth has inversely correlated with the declining legislative odds of the bill. He highlights that institutional adoption continues through developments like Robinhood's blockchain, Morgan Stanley's Solana ETF, and DTCC's tokenized stock settlements, suggesting that the industry is moving forward independently of congressional action.