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Clarity Act could unlock trillions for crypto, Franklin Templeton says
Edgen Crypto·Jul 23 2026, 19:38Share to
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[1] The Clarity Act could unlock trillions for crypto (https://www.youtube.com/watch?v=zR3XAvr6uLw ...)[2] Crypto needs clarity, not the CLARITY Act (https://www.yahoo.com/news/politics/articles/ ...)[3] The CLARITY Act Could Be in Trouble. This is the Only Crypto I'm Buying Right... (https://finance.yahoo.com/markets/crypto/arti ...)[4] Senate Republicans release updated CLARITY Act with new crypto ethics... (https://www.fxstreet.com/cryptocurrencies/new ...)[5] President Donald Trump Just Told Congress to Pass the Clarity Act. Here's the... (https://finance.yahoo.com/markets/crypto/arti ...)
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Jul 23 2026, 19:52
Bitcoin beats semiconductor stocks by 25% as Sigel sees path to $100,000
Bitcoin rose 13% from its July low of $57,750 to trade at $65,674 as of 14:30 UTC, outpacing the Philadelphia Stock Exchange Semiconductor Index by roughly 25 percentage points this month. "The relative strength is improving, European fiscal concerns are mounting, and enthusiasm around parts of the AI trade is fading — that's a more constructive setup for Bitcoin," Matthew Sigel, head of digital assets research at VanEck, said in a CNBC interview Thursday. Bitcoin's 30-day options delta skew on Deribit has narrowed to 13% from 19% a week earlier, indicating reduced demand for downside hedges, while perpetual futures funding rates have held at a neutral 8% annualized, according to Laevitas data. Open interest stands at $111 billion with 24-hour trading volumes of $147 billion, Coinglass data shows. The decoupling from tech stocks comes as the Nasdaq-100 fell below 28,800 last week for the first time in five weeks, while the US five-year Treasury yield climbed to 4.33%, pressuring growth stocks. Sigel sees a path for Bitcoin back to $100,000, a level last tested in October 2025 before the asset fell nearly 50% to its current range. **Semiconductor weakness fuels rotation trade** The SOXX has underperformed Bitcoin by roughly 25 percentage points in July as investors rotated out of AI-exposed names amid concerns over excessive valuations in the sector. Shares of memory-chip makers and AI infrastructure plays have declined, with the sell-off accelerating after a string of earnings that failed to justify elevated price multiples. Strategy, the largest corporate holder of Bitcoin, raised $263 million in cash last week through an at-the-money stock offering, bringing its reserves to $3.22 billion, according to company filings. The move eased concerns that the firm might need to sell Bitcoin to meet its $1.76 billion annual dividend obligation to preferred perpetual equity shareholders. **Key levels and the Fed catalyst** Bitcoin faces immediate resistance between $67,000 and $68,000, with a breakout above that zone opening a path toward $70,000 to $72,000 by month-end, according to Maxime Seiler, co-founder and CEO of STS Digital. On the downside, $64,000 serves as near-term support, with $60,000 representing the level "the market cares about," Seiler said. The Federal Reserve's July 28-29 meeting is the next major catalyst, with traders pricing in a potential rate decision that could resolve Bitcoin's current range-bound trading, Seiler added. Julio Moreno, head of research at CryptoQuant, identified $64,000 as support and $72,000 as resistance, noting these levels have been "reliable support and resistance levels during this bear market." Bitcoin's 30-day implied volatility index (BVIV) has risen for five consecutive sessions, a pattern that has historically preceded price declines since the launch of spot ETFs, according to CryptoQuant data. However, the narrowing put-call skew suggests fear is gradually evaporating from the options market. This article is for informational purposes only and does not constitute investment advice.
Jul 23 2026, 19:48
BlackRock IBIT and MicroStrategy reveal 2 paths to Bitcoin accumulation
**Two of the largest institutional Bitcoin holders have pursued fundamentally different accumulation strategies, reflecting competing views on how the asset fits into portfolio construction and corporate treasury management.** BlackRock's iShares Bitcoin Trust and MicroStrategy represent two distinct institutional approaches to accumulating Bitcoin, each with different structural advantages, cost profiles, and investor bases. The comparison highlights how traditional finance and corporate treasuries are channeling capital into the asset through separate mechanisms. "The ETF structure offers liquidity, daily pricing, and regulatory familiarity under the Investment Company Act of 1940, while the corporate treasury model provides direct ownership without fund-level expense ratios," said James Butterfill, head of research at CoinShares. "Each attracts a different type of investor with different holding period expectations." IBIT, which launched in January 2024, operates as a spot Bitcoin ETF listed on Nasdaq, allowing traditional brokerage account holders to gain Bitcoin exposure without managing private keys or exchange accounts. The fund charges a management fee and publishes daily holdings, providing transparency that institutional allocators require. MicroStrategy, by contrast, purchases Bitcoin directly on its corporate balance sheet, funding acquisitions through convertible note offerings and equity raises, and holds the asset as its primary treasury reserve. The structural differences carry meaningful implications. IBIT investors can exit positions during market hours at net asset value, while MicroStrategy shareholders own a claim on the company's Bitcoin holdings plus its software business — a structure that can trade at a premium or discount to the underlying Bitcoin value. MicroStrategy's approach also introduces corporate leverage through its debt-funded purchases, amplifying both upside and downside exposure relative to spot Bitcoin. ## ETF Flows vs. Corporate Treasury Demand IBIT's accumulation is visible through daily ETF flow data, providing real-time signals of institutional demand. The fund has consistently ranked among the top ETF launches by assets under management, drawing inflows from registered investment advisers, hedge funds, and pension allocators. MicroStrategy's purchases, disclosed in SEC filings and press releases, follow a less predictable cadence tied to its capital markets activity. The two channels serve different market functions. ETF flows offer a temperature check on mainstream institutional appetite, while corporate treasury purchases signal conviction from company management willing to allocate shareholder capital to Bitcoin. Together, they represent a dual-layered demand structure that has supported Bitcoin's price floor during drawdowns. ## What the Comparison Means for Bitcoin's Market Structure The coexistence of ETF-based and corporate treasury accumulation creates a more resilient demand base than either channel alone. ETF investors tend to be more price-sensitive and may redeem during volatility, while corporate holders like MicroStrategy have historically maintained their positions through market cycles, reducing sell-side pressure. This dual-channel dynamic reinforces the narrative of sustained institutional adoption, as it signals demand from both traditional finance intermediaries and corporate balance sheets. The structural diversity of accumulation methods may also reduce Bitcoin's correlation with traditional risk assets over time, as different holder types respond to different incentives. This article is for informational purposes only and does not constitute investment advice.
Jul 23 2026, 18:55
Ondo Finance wins FINRA nod to offer tokenized stocks to 100M+ US investors
**Ondo Finance's SEC-registered broker-dealer subsidiary secured FINRA authorization to bring tokenized equities and ETFs to hundreds of millions of American retail and institutional investors under full regulatory oversight.** Ondo Finance on July 23 announced that Oasis Pro Markets, its SEC-registered broker-dealer, received FINRA authorizations to offer tokenized corporate equities and funds to U.S. financial institutions and retail investors. The approvals cover OTC retailing, underwritten primary offerings, private placements and secondary trading of tokenized securities under SEC and FINRA oversight. "The authorizations further enable Oasis Pro Markets to operate a compliant platform for U.S. issuers to conduct primary offerings of, and for U.S. institutional and retail investors to engage in secondary trading of, these tokenized securities," Ondo Finance said in a statement. Under the framework, Oasis Pro Markets can offer U.S. investors access to NMS equities — stocks listed on major national exchanges — along with fund interests including ETFs, mutual funds and index funds, plus securities issued through IPOs. Settlement can occur in fiat currency or supported stablecoins, including directly between blockchain-based wallets. The approvals also support omnibus account structures, letting institutional investors, registered investment advisers and retirement accounts access tokenized securities through their existing brokers without switching platforms. The FINRA clearance closes a regulatory gap that had kept Ondo's strongest traction outside the U.S. The firm secured EU approvals, expanded across multiple chains and added BlackRock's IBIT and Galaxy Digital offerings to its suite, but the U.S. market remained largely out of reach. Ondo now leads the real-world asset tokenization space with more than $20 billion in cumulative volume and over $1 billion in total value locked, according to company data. **What the Authorization Unlocks** The approvals build on Ondo's acquisition of Oasis Pro in October 2025, which brought an SEC-registered broker-dealer, an SEC-registered alternative trading system and an SEC-registered transfer agent under one roof. Oasis Pro TA, the transfer agent arm, provides on-chain capitalization table management, shareholder rights and cross-asset collateral mobility. In early July, Ondo unveiled its tokenized-stock model with real securities already attached: BlackRock's iShares Core S&P 500 ETF and shares of chipmaker Micron were among the first securities issued, with Oasis Pro serving as transfer agent and Wall Street back-office firm Broadridge handling proxy voting and shareholder communications. The SEC closed its probe into Ondo with no charges, a clearance that signaled confidence in the compliance model. **Market Context and Forward Outlook** The ONDO token traded at $0.40 as of July 23, down 3.14 percent in the past 24 hours despite a 2.35 percent gain over the past seven days, CoinGecko data shows. The token's 24-hour trading volume stood at roughly $126.4 million, with a market capitalization of approximately $1.95 billion on a circulating supply of 4.9 billion ONDO. The regulatory path now opens the door for Ondo to bring 24/7 trading, near-instant settlement and fractional ownership to a U.S. investor base that previously could not access tokenized securities through regulated channels. SBI Group recently tapped Ondo for tokenization expansion, and Ondo's tokenized STRC stock launch in May 2026 added further momentum. Each regulatory milestone has reinforced the same thesis: Ondo is building the infrastructure layer for Wall Street to move onchain, with the next test being how quickly U.S. broker-dealers and registered investment advisers integrate the omnibus account structure into their existing platforms. This article is for informational purposes only and does not constitute investment advice.