According to a research note published by Grayscale on May 22, Ethereum, Solana, BNB Chain, and Canton Network are positioned as the four blockchains most likely to attract institutional capital following the passage of the Clarity Act. The digital asset manager selected these chains based on their leadership across three key metrics: tokenized asset value, stablecoin supply, and DeFi total value locked. As reported by Grayscale, regulatory clarity is expected to create a rising tide that will lift digital assets broadly across the industry.
According to Grayscale's analysis, Canton Network emerged as the leading institutional settlement network, surpassing Cardano despite initial misreporting from other outlets. Canton Network holds over $348 billion in tokenized real-world asset value and hosts the DTCC's tokenized Treasury pilot program. The network counts JPMorgan, HSBC, and Visa among its validators, with $350 billion settling daily on the platform. Grayscale's head of research, Zach Pandl, noted that Bitcoin will also benefit from regulatory clarity as the industry's most secure asset.
Recent prediction market data reveals a dramatic shift in Clarity Act approval prospects, with Kalshi reporting that approval odds dropped from nearly 75% last week to 50% on May 23. The likelihood of passage before July 2026 has fallen to just 14%, while chances before August have dropped to 37%. However, Polymarket odds showed some positive movement after Senator Cynthia Lummis's remarks, with chances of 2026 passage increasing by 16% over the previous month to 65%. The Senate Banking Committee passed the bill on May 14 with a 15-9 bipartisan vote, but numerous amendments remain before the final floor vote.
The Clarity Act faces significant opposition from the banking lobby, which continues to push for a ban on stablecoin yield generation and raises complex ethical concerns. JPMorgan Chase CFO Jeremy Barnum has echoed these cautions, emphasizing the risks of allowing stablecoins to generate yield. Analysts have raised concerns about yield-bearing stablecoins potentially upsetting established banking models, creating additional hurdles for the legislation's passage. Senator Lummis has noted that Wyoming acted proactively in building digital asset frameworks before federal action, stating she came to the Senate to scale digital asset adoption rather than slow it down.
