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06/24 02:48

Ric Edelman predicts CLARITY Act may unlock crypto

Ric Edelman predicts CLARITY Act may unlock crypto floodgates Ric Edelman has predicted that up to 95% of institutions without crypto exposure could enter the market if the CLARITY Act becomes law. In a recent interview, Edelman said the disconnect between crypto prices and industry activity has become increasingly noticeable as large financial firms continue expanding their blockchain and tokenization efforts. While cryptocurrency markets have struggled to maintain momentum amid regulatory uncertainty, Edelman said major Wall Street institutions, including BlackRock, JPMorgan, Morgan Stanley, Franklin Templeton, State Street, Invesco, and Fidelity, continue building products and services tied to digital assets. “Crypto prices are not reflecting what’s happening in the world of crypto,” Edelman said, pointing to rising institutional engagement even as investors remain cautious. Institutional demand continues to build Drawing attention to recent industry surveys and conversations with market participants, Edelman said many institutions that currently have no crypto exposure are preparing to enter the sector. According to Edelman, 95% of institutions that do not currently own crypto expect to make their first allocation this year. He added that roughly three-quarters of institutions that already hold digital assets intend to increase their existing exposure. Even with those expectations, capital has not yet entered the market at the scale many industry participants anticipated. Edelman attributed part of that hesitation to uncertainty surrounding U.S. crypto legislation, periodic Bitcoin ETF outflows, and continued political opposition from lawmakers such as Bernie Sanders and Elizabeth Warren. #2026 World Cup Posting Challenge on HTX Square #HTX Creation Challenge — Post and Win 1,500U 💥

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