Grayscale named four blockchains as the top Clarity Act winners in a research note published on May 22.
Summary
- Grayscale named Ethereum, Solana, BNB Chain, and Canton Network as the four chains best positioned for institutional capital after the Clarity Act passes.
- All four chains lead the market by value of tokenized assets, stablecoin supply, and total DeFi value locked, which Grayscale uses as the primary ranking criteria.
- Grayscale also named Avalanche, Base, Arbitrum, Hyperliquid and Tron as secondary beneficiaries with significant on-chain financial exposure.
gray scale published a May 22 research note identifying Ethereum, Solana, BNB Chain, and Canton Network as the four blockchains best positioned to absorb institutional capital once the Clarity Act becomes law. “Regulatory clarity is coming and a rising tide will likely broadly boost digital assets,” Grayscale wrote.
The four chains were selected because they lead three key metrics: value of tokenized assets, stablecoin supply and transaction volume, and total DeFi value locked. Ethereum leads the tokenized assets, followed by BNB Chain and Solana, while Canton Network rounds out the list as the top institutional settlement network.
Why Grayscale puts Canton Network ahead of Cardano
Canton Network’s listing of Cardano corrects some initial erroneous reports from other outlets. Canton holds more than $348 billion in real-world tokenized asset value, hosts the DTCC Tokenized Treasury pilot program, and counts JPMorgan, HSBC, and Visa among its validators.
“$350 billion is settled daily in Canton, with over $6 trillion in real-world tokenized assets and institutions like JPMorgan and DTCC in production,” Canton Network recently said.
Zach Pandl, head of research at Grayscale, noted that Bitcoin will also benefit from regulatory clarity as the industry’s safest asset. Crypto.news has reported in Grayscale’s December 2025 outlook that predicts bipartisan legislation would unlock a new institutional era for digital assets.
What the secondary level of beneficiaries of the Clarity Law looks like
Grayscale also pointed to Avalanche, Base, Arbitrum, Hyperliquid and Tron as networks with significant on-chain financial exposure that would benefit from greater regulatory clarity. These chains rank below the top four in value of tokenized assets, 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 list of Clarity Act beneficiaries.
The Clarity Act passed the Senate Banking Committee in a bipartisan 15-9 vote on May 14. It now needs a full Senate vote, a 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 midterm elections. The ethereal (ETH) page tracks price reaction as the bill’s prospects develop.
