VanEck's CEO Matthew Sigel: 'If the Clarity Act is passed, there will be massive growth in cryptocurrency'
Matthew Sigel, Head of Digital Assets Research at VanEck, stated that the cryptocurrency market is currently stagnant and expects Bitcoin and the broader market to bottom in Q4, followed by stabilization. He noted that high-capex companies performed well in the first half of the year, but the trend reversed in June, with Bitcoin and digital assets suffering from the broader tech and software sector downturn. Sigel also pointed to four-year market cycles as a contributing pressure.
Regarding institutional adoption, Sigel observed it has not progressed as expected post-election, with institutions favoring permissioned blockchains for predictable transaction fees. He emphasized that a major market recovery is contingent on the passage of the U.S. CLARITY Act, arguing that clear, open regulation is the most critical factor for attracting institutional capital into the sector.
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