Grayscale named four blockchain networks as top Clarity Act winners in a research note published on May 22.
summary
- Grayscale named Ethereum, Solana, BNB Chain, and Canton Network as the top four chains for institutional capital following the passage of the Clarity Act.
- The four chains lead the market by token asset value, stablecoin supply, and total DeFi value locked, which Grayscale uses as its primary ranking criteria.
- Grayscale also named Avalanche, Base, Arbitrum, Hyperliquid, and Tron as secondary beneficiaries with significant on-chain financial exposure.
Grayscale published A May 22 research note identified Ethereum, Solana, BNB Chain, and Canton Network as the top four blockchains to absorb institutional capital once the Clarity Act is signed into law. “Regulatory clarity is coming, and the rising tide is likely to lift digital assets broadly,” Grayscale wrote.
The four chains were chosen because they lead across three key metrics: token asset value, stablecoin supply and transaction volume, and the total value of DeFi locked. Ethereum leads the token assets, followed by BNB Chain and Solana, while Canton Network completes the list as the leading institutional settlement network.
Why Grayscale is putting the Canton Network ahead of Cardano
The listing of Canton Network on Cardano corrects some initial misreporting from other outlets. Canton holds over $348 billion in real-world token asset value, hosts the DTCC Treasury pilot program, and counts JPMorgan, HSBC, and Visa among its ratifiers.
“$350 billion per day rests in Canton, with over $6 trillion in real tokenized assets and institutions like JP Morgan and DTCC in production,” Canton Network recently said.
Bitcoin will also benefit from regulatory clarity as the safest asset in the industry, noted Zach Bandel, head of research at Grayscale. Crypto.news has I mentioned According to Grayscale’s December 2025 forecast, which predicts that bipartisan legislation would usher in a new institutional era for digital assets.
What does secondary level look like for beneficiaries of the Law of Clarity?
Grayscale also flagged Avalanche, Base, Arbitrum, Hyperliquid, and Tron as networks with significant exposure to on-chain finance that may benefit from greater regulatory clarity. These chains fall below the top four in terms of token asset value but have created DeFi ecosystems.
Crypto.news has tracking Grayscale’s aggressive expansion strategy for ETFs across multiple chains reflects the same analytical framework that underpins the list of Clarity Act beneficiaries.
The Clarity Act received approval from the Senate Banking Committee on a bipartisan 15-9 vote on May 14. It now needs a vote in the Senate, reconciliation in the House, and a presidential signature before Grayscale’s selections become a regulated beneficiary.
Crypto.news has Covered Compressed legislative calendar that gives the bill its final window before the 2026 midterm elections. Ethereum (Ethereum) The page tracks the price reaction as the bill’s prospects develop.
