Bitwise CIO Matt Hougan argues that crypto markets can rally despite the CLARITY Act's failure in the US Senate, citing strong Bitcoin and ETF inflows.
Regulation & Gov ·
Matt Hougan, Bitwise's CIO, contends that the collapse of the CLARITY Act in the Senate need not derail ongoing momentum in cryptocurrency markets. His perspective suggests market participants have not made congressional passage a prerequisite for sustained upside.
Evidence of market resilience appears in Bitcoin's trajectory: the asset moved from roughly $57,950 in July to above $80,000 by early September, demonstrating price appreciation independent of regulatory action. US-based Bitcoin ETFs returned to net inflows, recording over $159 million in fresh capital, though Ethereum ETFs continued shedding assets, signaling uneven conviction across the sector.
What remains unclear is whether this bifurcated ETF performance reflects broad confidence in Bitcoin specifically or temporary tactical positioning ahead of potential regulatory developments. The longer-term impact of the CLARITY Act's failure on institutional adoption and exchange operations remains open.