Matt Hougan, Chief Investment Officer of Bitwise, stated that on Monday, the U.S. Senate passed the end of debate on the "GENIUS Act" with a vote of 66 in favor and 32 against, with 16 Democratic senators crossing party lines to vote in favor. This bill provides a solid regulatory framework for stablecoins in the U.S. In addition to the approval of the Bitcoin Spot ETF in January 2024, this is the most significant regulatory advancement in the history of Crypto Assets, and it may even be more important than that.


I believe this sets the stage for a long-term sustained rise in crypto assets other than Bitcoin. The biggest beneficiaries are Ethereum (ETH), Solana (SOL), and various decentralized finance (DeFi) assets such as Uniswap (UNI) and Aave (AAVE).
BTC-0.35%
ETH-1.13%
SOL-1.54%
DEFI0.67%
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