Grayscale named four blockchains as the top winners of the Clarity Act in a research paper published on May 22.
Summary
- Grayscale named Ethereum, Solana, BNB Chain and Canton Network as the four chains best placed in institutional money after the passing of the Clarification Act.
- The four chains lead the market in tokenized asset value, stablecoin supply and total DeFi value locked, which Greyscale uses as its primary ranking criteria.
- Grayscale also named Avalanche, Base, Arbitrum, Hyperliquid and Tron as secondary beneficiaries with significant exposure to on-chain currencies.
Grayscale published a research note on May 22 that identified Ethereum, Solana, BNB Chain, and Canton Network as the four blockchains best positioned to absorb institutional funding once the Clarity Act is signed into law. “Regulations are coming, and the rising tide could lift digital assets more widely,” Greyscale wrote.
The four chains were chosen because they lead in three main metrics: the amount of tokenized assets, stablecoin supply and transaction volume, and the total amount of DeFi locked. Ethereum leads in token 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
The installation of the Canton Network on top of Cardano corrects early misreporting from other stores. Canton manages more than $348 billion in real-world assets, hosts the DTCC Treasury Department token pilot, and counts JPMorgan, HSBC, and Visa among its guarantors.
“$350 billion live daily in Canton, more than $6 billion in real world assets such as JPMorgan and the DTCC building in production,” said Canton Network recently.
Zach Pandl, head of research at Grayscale, noted that Bitcoin will also benefit from legal clarity as the industry’s most secure asset. Crypto.news reported on Greyscale’s December 2025 vision that predicts bipartisan legislation will usher in a new era of digital assets.
What the second category of Clarity Act beneficiaries looks like
Grayscale also flagged Avalanche, Base, Arbitrum, Hyperliquid, and Tron as networks with significant on-chain financial exposure that could benefit from more regulatory clarity. These chains sit under the four main tokenized asset chains but have established DeFi ecosystems.
Crypto.news has tracked the expansion strategy of Grayscale’s active ETF across multiple chains, showing the same analytical framework that underpins its list of Clarity Act beneficiaries.
The Clarity Act cleared the Senate Banking Committee on a bipartisan vote of 15-9 on May 14. It now requires a Senate vote, House concurrence, and the president’s signature before Greyscale’s nominees become regulated beneficiaries.
Crypto.news posted a compressed legislative calendar that gives the bill its final window before the 2026 midterms. The Ethereum (ETH) page tracks the price reaction as the bill’s probability increases.
