---
title: 'Bombshell: What''s Really Happening with the Clarity Act'
source: 'https://youtube.com/watch?v=Up9AcAKAVSY'
video_id: 'Up9AcAKAVSY'
date: 2026-08-06
duration_sec: 906
---

# Bombshell: What's Really Happening with the Clarity Act

> Source: [Bombshell: What's Really Happening with the Clarity Act](https://youtube.com/watch?v=Up9AcAKAVSY)

## Summary

The video discusses the urgent push to pass the Crypto Clarity Act in the US Senate before midterms, highlighting last-minute support from major financial institutions and the ironic obstacles posed by President Trump's crypto ventures. It also covers bullish signals like the launch of a new crypto index by S&P Dow Jones Indices and Ethereum's potential in tokenization.

### Key Points

- **Emergency Deadline for Clarity Act** [00:01] — The crypto industry is in an emergency deadline period for the Senate to pass the Clarity Act before midterms. Time is running out.
- **Major Financial Giants Support Clarity Act** [00:30] — Big names in global finance managing a combined $50 trillion are coming out to support the Clarity Act, including Fidelity, Charles Schwab, BlackRock, Goldman Sachs, Deutsche Bank, Credit Agricole, and Banco Santander.
- **Fidelity's Urging** [01:42] — Fidelity urges the Senate to pass the Clarity Act, stating 'The time is now for clear rules of the road that are essential to strengthening investor confidence, providing certainty for market participants, and reinforcing US leadership in the global digital asset markets.'
- **Charles Schwab's Shift** [02:13] — Charles Schwab, once a skeptic, now calls the Clarity Act a 'really important fundamental catalyst' and is launching major crypto products.
- **Irony: Trump as Obstacle** [02:29] — The reason the Clarity Act isn't passing seems to be President Trump's crypto ventures. Travis Kling outlines six points: Trump elected as crypto president, pulls in $1.4B in crypto profits from 'grifts, scams, and bribes', crypto legislation gets to the one-yard line, Dems want real ethics provisions, Trump refuses, bill dies.
- **Final Thoughts on Clarity Act** [04:01] — Representatives from Solana Policy Institute and DeFi Education Fund say an emergency last-minute push could still happen, but if it fails, the next realistic chance is in the 2030s.
- **Optimism from Lobbyists** [05:00] — One lobbyist is more optimistic, noting that legislating often comes down to emergencies and that negotiations are ongoing. Another mentions 25 provisions added to address illicit finance concerns.
- **S&P Dow Jones Launches Crypto Index** [07:16] — S&P Dow Jones Indices is launching a new crypto index with 18 constituents, including Ethereum, BNB, Solana, TRX, and Hyper Liquid. Bitcoin is excluded because it's not a revenue-generating protocol.
- **Catherine Clay on CNBC** [07:59] — S&P DJI CEO Catherine Clay explains the index aims to bring trusted investable benchmarks to digital assets, working with Pantera Capital. The index will rebalance quarterly, with top token capped at 35% and others at 20%.
- **Michael Saylor's Bitcoin Prediction** [10:45] — Michael Saylor said Bitcoin is more likely to hit $1 million than zero, given enough time.
- **Institutional Endorsement** [11:12] — The speaker argues that major institutions endorsing crypto means it's not a tulip bulb.
- **Ethereum Bullishness** [11:27] — Over 2.5 million ETH is waiting to be staked, and Bitwise CIO Matt Hogan is very bullish on Ethereum, citing tokenization as a huge market.
- **Matt Hogan on Ethereum** [12:25] — Hogan says Ethereum is the leading play on stable coins and tokenization, and the community is now focused on investors. He owns a lot of ETH.
- **Tokenization's Potential** [13:05] — Hogan notes that SEC chair and BlackRock CEO say tokenization is the future, but people talk more about stable coins. Tokenization markets are enormous: trillions in equities, bonds, real estate.
- **Bitcoin Bottoming Signals** [13:57] — Bitcoin supply held by long-term holders has reached an all-time high, and the bear case suggests one more low later this year, then consolidation, then a bull market.

### Conclusion

The video concludes that despite the Clarity Act's uncertain fate, bullish signals like institutional support and new indices suggest a positive long-term outlook for crypto, with Ethereum and tokenization as key growth areas.

## Transcript

sort of emergency. We are in that emergency deadline period. >> The walls are closing in on crypto as the industry enters its final hours for
Senate to take up the Clarity Act on the floor and eventually pass Clarity Act before midterms. Yet, time is running out. Will Congress be able to pass the Clarity Act in time? We've been keeping you updated on this all week
and there is more to the story today. As in a surprising move, a last-ditch effort of sorts, some of the biggest names in global finance managing a names in global finance managing a combined 50 trillion all coming out of
the woodwork, all coming together to support the Clarity Act. And really quick, before we continue, just 30 seconds, I need to make you aware of three huge promotions from channel partner OKX. Use my link below and start
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Use my link below to be eligible for all special promotions. Fidelity urging Senate to pass the Clarity Act writing, "The time is now for clear rules of the road that are essential to strengthening investor confidence, providing certainty
for market participants, and reinforcing US leadership in the global digital asset markets. Charles Schwab, much like BlackRock, much like Goldman Sachs, used to be a huge skeptic, now competing for market share, launching some of the
biggest crypto products in the US. 13 trillion assets under management, Charles Schwab says the Clarity Act is a, quote, really important fundamental catalyst that needs to pass. So, perhaps the biggest piece of irony is that the
reason the Crypto Clarity Act isn't going to pass seems to be directly related to the crypto president himself. >> Bitcoin is going to the moon, as we say. It's going to the moon. I want America to be the nation that leads the way, and
that's what's going to happen. No, you're going to be very happy with >> It is common knowledge at this point, many people are reporting, it seems to be that President Trump's crypto ventures are the biggest obstacle to
passing the Clarity Act. Crypto OG Travis Kling characterizes the irony of this whole situation very well, writing six points. Number one, Trump was elected as the crypto president. Number two, Trump pulls in 1.4 billion in
crypto profits in 25 from what he characterizes as grifts, scams, and bribes. Three, crypto legislator gets literally to the one-yard line in Senate, so close to passing. Four, Dems are so pissed at how
egregious the Trump grift, scam, bribes are that they want real teeth in the ethics provision of the bill. Five, Trump refuses, only agrees to super light ethics provisions. Six, the bill can't pass. Crypto legislature dies
on the floor. The crypto president clears 1.4 billion in crypto grifts, scams, bribes in one year and doesn't pass a crypto bill, honestly exactly what the crypto industry deserves. The night is always darkest before the dawn.
Before we get to this bullish news, let me share with you my final thoughts at the moment for if Clarity Act passes. And don't take my word for it, take it from two people who know, representatives of the Solana Policy
Institute and DeFi Education Fund, two crypto lobbying groups who want to get pro crypto legislation passed. Now, it surprises me in this clip, they say an emergency last-minute thing could still happen in literally the final hour that
pushes it to the Senate floor to get voted on. They're still bullish in this clip. However, they admit if it fails to get to the Senate floor and pass in the next couple weeks, the next realistic chance is sometime in 2030. So, either
some emergency situation happens in the next week, which is 100% possible, or US crypto holders wait until 2030s. >> I am more optimistic than Adrian because
legislating always comes down to some sort of emergency. And we are in that emergency deadline period and I completely agree with Adrian. I think that there will be changes particularly to the act title between now and a floor
vote to earn Democrats' support. But I think that that wasn't going to happen without the time pressure of floor deadline. So, I think you know, floor deadline. So, I think you know, the bill text released on Wednesday to a
certain extent was a starting gun, not the finish line. And I think right now the negotiations between Senate Republicans and Democrats are ongoing to secure their support going into the floor. So, I am more hopeful and um
I perhaps have a bit of opium because uh to answer one of your questions from the top, I think if it doesn't pass out of the Senate in the next few weeks, then uh the next realistic I suppose I don't know when the next realistic chance
we'll have is, but uh certainly will be sometime in the 2030s. >> Yeah, I agree with that. Um I think that uh there is no legislation without compromise. We have actually made a lot of compromises along the way. If you
think about what the September banking draft looked like of this bill for uh from then to now, there have been 25 provisions added to make sure that we address illicit finance and law enforcement concerns on the Senate
Um I you know, I take Adrian's point on the Senate agriculture side, but as Miller said, um I think the time is now to make compromises if we're going to to make compromises if we're going to make any, but um I really do think that
there are things in this bill that should make any person who wants to see space happy. Um I don't think that there is I don't think that the Senate Ag um has some
support. Like I don't think that's where we are. I think that Dems should support the text that's in the Senate Ag side of this bill because it is representing compromises that have already taken place in the past. So, I I think the
time is short for sure. Everybody's got to be working really hard in the next week and a half, but I do think that we're on the right path toward having a final bill. >> The night is always darkest before the
dawn. Bottom signals everywhere. Let me show you why you should still be bullish. This is going largely unreported. Bullish. The S&P Dow Jones unreported. Bullish. The S&P Dow Jones Indices is launching a new crypto index.
Top digital assets include Ethereum, BNB, Solana, TRX, Hype, but 18 crypto coins will be a part of this index in total. Understand this is a huge deal.
total. Understand this is a huge deal. An S&P Dow Jones Indices CEO, Catherine Clay, goes on CNBC and explains why their company is expanding deeper into crypto. This is a big deal. Here's why. >> Am I overplaying this? I mean, to me,
It's kind of a big deal if there's a crypto one now, right? >> Uh that's actually right. We think about the investing nature of digital assets, the appetite to bring some sort of trusted investable benchmark into the
intentional about working with the right partners to bring a digital asset index that we think is more uh corollary to something like the S&P 500. And so, working with Pantera Capital has been an amazing experience for us to bring this
new index to life. >> There's 18 constituents total. The largest five are Ether, Binance Coin, Solana, Tron, and Hyper Liquid. So, what are the requirements? How much turnover do you expect? And what do these choices
>> What we're trying to bring are the same sort of principles that we have in our equity indices into digital assets. So, when you think about uh the seasoning period, the revenue generation, the listing requirement, the liquidity
these tokens, these are the things that we think matter for serious investors and asset managers in the digital asset space. And so, we think because there's this likeness between what we deliver in equity indices and into this new
benchmark for digital assets, we think it'll make sense uh for the investing uh >> But Bitcoin's not in here? >> Bitcoin is not in there because it's revenue-generating protocols that we think belongs in this index. Now, this
index, just like our uh other equity indices, will rebalance on a quarterly basis. Uh the top uh token is capped at the 35% and no other token can receive more than 20% of the balance in this market cap weighted benchmark. So, we
really think that people will find the synergies between equity indices and quite compelling. >> And obviously, a lot of crypto fund benchmark for their performance and people can kind of use this as a
to and I and I think it's interesting as you emphasize the revenue generating aspect of some of these things. Is all of that legal? In other words, as we wait for the clarity act and all of this to pass, um just explain once again, how
do they generate that revenue um for holders? Where is that revenue coming from? >> Yeah, so these are really utilitarian driven revenues. They're not yield bearing instruments. Uh and so these
protocols actually real you know, have revenue that are coming from the actual usage of the protocols that we're measuring. And we really work closely with Dan Morehead of Pantera Capital. Now, Pantera Capital, as I'm sure you
know, Kelly, is one of the leading investor firms into the digital asset space. And so our methodology really looks into how are these protocols generating revenue outside of yield based uh investing. And that's really
in this new benchmark. >> Bitcoin is much more likely, given enough time, to hit 1 million than it is to hit zero. Michael Saylor explained
this to us on our podcast just a couple years ago as all this was starting to a million. >> It's either nothing, right? If it's nothing, then it's getting scrubbed out and banned. And of course, we now know
[music] There's no way that Fidelity said it all, BlackRock, Charles Schwab, Deutsche Bank, Credit Agricole, Banco Santander, all decide they're interested endorsing a tulip bulb. >> I'm bullish on Bitcoin. I'm bullish on
crypto. I'm especially bullish on Ethereum. Let me show you why. No one is unstaking their Ethereum. In fact, over 2.5 million ETH is waiting to be staked.
This is bullish. Bitwise CIO Matt Hogan, you know he's a big crypto bull, Bitcoin bull, in particular Solana bull. Well, in this clip on the One River Happens podcast, he admits, "Besides their crypto index, which gives them exposure
to the whole market, Ethereum is by far their biggest holding. If you see what's what's going on with tokenization, if you understand that tokenization is going to be a much even bigger market than stable coins, most people are
missing the bull case." And he believes a big uptick for Ethereum and crypto is coming in the future. Here's why. >> Look, Ethereum is the leading play on huge markets. The community had gone somewhat astray
and was in like a depths of despair earlier this year with a super long technical road map and like accusations of being ivory tower. And now they're they're shipping better. I think the community is focused on investors. I
think it's their market to lose on stable coins and tokenization. So, I'm very bullish on ETH. And own a lot of it. It's the second largest position, >> Mhm. >> Um very, very bullish. The market is
Um I think skeptical of the degree to which tokenization as the future. I mean, you do have the chair of the SEC saying the
entire market will move on blockchain based rails. And you have the CEO of the largest asset manager saying every asset will be tokenized. And yet, people still talk more about stable coins than they do about tokenization. Tokenization's a
trillion dollars of equities. There's more of that of bonds. There's even more of that in real estate. Those are enormous markets. And you know, the New York Stock Exchange, Nasdaq, CBOE, BlackRock,
Goldman Sachs, JP Morgan, they're all focused on this space. I just think it will happen faster than people think. You know, I I as mentioned come from the ETF industry. People were hugely skeptical of that uh as uh an evolution
And I see the same sort of like grassroots level adoption there that I'm seeing in tokenization. So, I think I think people are underestimating the the >> Bitcoin is bottoming. This chart is
exactly what people claim they dream about until it actually happens. Don't you wish you could go back to this time or this time or this time and buy during these times in the bear market when supply in loss reaches this point. And
many people are, according to Fidelity, Bitcoin supply held by long-term holders has reached a new all-time high. Of course, the bear case is this. This red line is Bitcoin's current bear market versus its other bear markets which
turned into bull markets. And if you're a believer in the four-year cycle, one more low is probably to come later this year. Then we're going to have 6 to 12 months of consolidation just to get Bitcoin's price back up to where we are
now. And then maybe a year or two later we have a raging bull market. This is the bear case. This is the plays out the same as every bear cycle case. Tell me you're interested in making money in crypto, subscribe to Altcoin Daily. Join
community in the world putting out daily content keeping you informed on the whole crypto space. See you tomorrow, my friends.