TLDR
- Bernstein reports that the U.S. has made significant strides toward becoming the global crypto leader through new regulatory frameworks.
- The GENIUS Act has helped boost the stablecoin market, pushing U.S. dollar-backed supply beyond $260 billion.
- The upcoming CLARITY Act will provide clearer regulatory guidelines and define responsibilities between the SEC and CFTC.
- SEC Chair Gary Gensler’s Project Crypto aims to merge securities markets with blockchain technology to foster innovation.
- Crypto exchange-traded funds (ETFs) now hold $160 billion in assets, with institutions making up about a quarter of the investors.
Bernstein analysts have declared that the United States has taken a decisive step toward becoming the world’s crypto capital. The report, published on Wednesday, highlights the recent launch of a comprehensive regulatory framework. This framework, they believe, accelerates the country’s dominance in the digital asset market.
Bernstein Sees U.S. as Crypto Leader
The enactment of the GENIUS Act has been instrumental in driving the growth of stablecoins. According to Bernstein, the U.S. dollar-backed supply of stablecoins has now surpassed $260 billion. This surge, they argue, marks a major step forward in the country’s crypto ecosystem. The law has set the stage for more stablecoin growth, which has been a crucial factor in the sector’s expansion.
Looking ahead, Bernstein anticipates the CLARITY Act will play a key role in shaping the crypto market. Expected to be introduced in late 2025, this act will bring clarity to the regulatory landscape. It will provide a clear division of responsibilities between the SEC and the CFTC. Bernstein sees this development as crucial for resolving years of regulatory uncertainty, making the U.S. a more attractive place for digital asset businesses.
Institutional Investors Boost Crypto ETF Growth
The report emphasizes the importance of SEC Chair Gary Gensler’s Project Crypto in this transformation. Bernstein sees it as the most ambitious effort to merge securities markets with blockchain technology. The project aims to classify most crypto assets outside of traditional securities laws, allowing for innovation. This would enable tokenized stocks and bonds to be traded under a single regulatory framework.
Bernstein also highlights the growing role of institutional investors in crypto exchange-traded funds (ETFs). The report points out that crypto ETFs now hold $160 billion in assets. It notes that approximately 25% of these assets come from institutional investors. This surge in institutional participation marks a key milestone in the crypto industry’s development.
The digital asset IPO market has also gained traction this year, according to Bernstein. The report states that $4 billion has been raised in IPOs since January 2025. This resurgence has been bolstered by growing investor confidence in the crypto sector. Bernstein attributes this growth to the clarity provided by recent regulatory measures.
Publicly Traded Crypto Firms Soar
The market value of publicly traded crypto firms has surged dramatically in 2025. Bernstein reports that the value has increased from $80 billion in early 2024 to $380 billion. Companies like Coinbase and Robinhood are now included in the S&P 500 stock index. This milestone demonstrates the increasing mainstream acceptance of digital asset firms.
Bernstein predicts that a new, more sustainable crypto cycle is taking shape. With clear regulatory rules, institutional capital, and deeper blockchain integration, the market is evolving. This new phase promises to strengthen the sector’s foundations and foster long-term growth. The combination of these factors is expected to drive further adoption and innovation.
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