Overview
- Grayscale published a research note on May 22 that identifies Ethereum, Solana, BNB Chain and Canton Network as the four public blockchains best placed to attract institutional capital if the Digital Asset Market Clarity Act becomes law.
- The report ranks chains using three on-chain finance metrics—tokenized‑asset value, stablecoin supply and transaction volume, and decentralized finance total value locked—to explain why those networks lead the field.
- Canton Network replaces earlier misreports naming Cardano and is highlighted for institutional settlement work, including a DTCC tokenized‑Treasury pilot and participation claims from firms such as JPMorgan, DTCC, HSBC and Visa.
- Grayscale also lists a secondary tier of beneficiaries—Avalanche, Base, Arbitrum, Hyperliquid and Tron—and notes that Bitcoin and other L1/L2 networks would broadly gain from clearer rules for institutions and intermediaries.
- The identified gains are conditional on legislation moving forward: the Clarity Act cleared the Senate Banking Committee on May 14 by a 15–9 vote and still requires a Senate floor vote, House action and the president’s signature before its market effects can materialize.