The failure of the CLARITY Act in the US Senate is a setback for the crypto industry, but Bitwise Chief Investment Officer Matt Hougan believes it should not derail the broader market rally. Bitcoin climbed from $57,950 in early July to above $80,000 by early September even as the odds of the CLARITY Act passing fell from 39% to 18%, suggesting crypto investors were not waiting for Congress. Wall Street continues to move into the sector with Morgan Stanley launching a Solana ETF and DTCC completing its first batch of tokenized stock settlements. US-based Bitcoin ETFs returned to net inflows of $159 million while Ethereum ETFs posted $39.2 million in net outflows.
Source: Read the original article
