Asset management giant Grayscale Investments has identified four blockchain networks it believes are best positioned to benefit from the proposed U.S. Digital Asset Market CLARITY Act: Ethereum, Solana, BNB Chain, and Canton Network.
According to Grayscale’s latest research note, growing regulatory clarity in the United States could accelerate institutional adoption of blockchain-based financial infrastructure, particularly in areas such as tokenization, decentralized finance (DeFi), and stablecoin payments.
Grayscale Sees Regulatory Clarity Driving Institutional Capital
The report, titled “The Blockchains that Stand to Benefit from Regulatory Clarity,” was published as lawmakers continue debating the CLARITY Act in Congress. The legislation aims to establish a clearer framework for crypto regulation by defining digital asset classifications and dividing oversight responsibilities between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
Grayscale Head of Research Zach Pandl said institutional investors are likely to focus on blockchain ecosystems already leading in on-chain finance activity.
The firm highlighted Ethereum as the leading network for tokenized assets and DeFi infrastructure due to its developer ecosystem, liquidity depth, and strong smart contract functionality. Solana and BNB Chain were recognized for their high transaction activity, stablecoin usage, and growing decentralized application ecosystems.
Grayscale stated that these networks are already dominant across key metrics including stablecoin supply, decentralized exchange volume, and total value locked (TVL) in DeFi protocols.
Why Canton Network Stands Out
Unlike the public-facing ecosystems of Ethereum and Solana, Canton Network was highlighted for its privacy-focused infrastructure tailored to regulated financial institutions.
Grayscale noted that Canton Network has gained traction among major traditional finance players exploring tokenized real-world assets and compliant blockchain systems. Reports indicate the network has been involved in institutional pilots related to tokenized U.S. Treasuries and settlement systems.
The report suggests that if the CLARITY Act becomes law, institutional demand for compliant blockchain infrastructure could increase significantly, benefiting networks specifically designed for enterprise and regulated financial applications.
CLARITY Act Gains Momentum in Washington
The CLARITY Act recently advanced through the Senate Banking Committee with a bipartisan 15-9 vote, marking a significant step forward for U.S. crypto legislation. Industry participants see the bill as one of the most important attempts to establish comprehensive market structure rules for digital assets.
The legislation is expected to provide clearer rules around token issuance, crypto trading platforms, and blockchain-based financial products. Analysts believe regulatory certainty could unlock broader institutional participation in digital asset markets.
Grayscale argued that the “rising tide” created by regulatory clarity may benefit the broader crypto market, but networks already leading in tokenization, stablecoins, and DeFi are likely to capture the largest share of new institutional capital.
Other Blockchain Networks Also Mentioned
While Ethereum, Solana, BNB Chain, and Canton Network were identified as the primary beneficiaries, Grayscale also mentioned several secondary networks that could gain from improved regulation.
These included Avalanche, Arbitrum, Base, Hyperliquid, and Tron. Grayscale said these ecosystems also have meaningful exposure to on-chain finance and could benefit from clearer crypto market rules.
Growing Focus on Tokenization and Stablecoins
The report reinforces a broader trend across the crypto industry: the convergence of traditional finance and blockchain infrastructure.
Tokenized real-world assets, including government bonds, money market funds, and private credit, have become one of the fastest-growing sectors in crypto. Stablecoins are also increasingly being used for payments, settlements, and cross-border transfers, driving demand for scalable blockchain networks.
Grayscale believes blockchain ecosystems capable of supporting institutional-grade tokenization, liquidity, and compliance tools will be among the largest long-term winners as crypto regulation matures in the United States.
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