In CLARITY Act news today, BlackRock head of digital assets Robert Mitchnick told CNBC on Wednesday that the CLARITY Act is less critical for Bitcoin than for the rest of the crypto market. He said Bitcoin had achieved a level of regulatory acceptance that most other digital assets had not.
His remarks came as US spot Bitcoin exchange-traded funds pulled in $232.1M on Wednesday, extending an eight-day inflow streak to $2.8Bn, according to CoinGlass.
Mitchnick's comments drew a distinction between Bitcoin and areas such as decentralized finance (DeFi) and other complex crypto categories. For those areas, he said, the regulatory picture remains unsettled.
H.R. 3633, the Digital Asset Market Clarity Act of 2025, passed the House of Representatives by a 294-134 vote on July 17, 2025, according to the congressional record.
The Senate Banking, Housing, and Urban Affairs Committee reported the measure with an amendment in the nature of a substitute on June 1, 2026. The Senate then received a motion for cloture and a motion to proceed to consideration of the measure on Aug. 8, 2026.
The bill has not passed the Senate. Its official title, as amended by the House, calls for a system of regulation for the offer and sale of digital commodities by the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Why Bitcoin Is Treated as a Separate Case
For Bitcoin, Mitchnick said institutional investors were not banking on further legislation as part of their base case. In his framing, further regulatory progress would be potential upside rather than a requirement for Bitcoin.
He contrasted that position with DeFi and other complex crypto categories, where he said regulatory questions remain unsettled. The distinction places Bitcoin's institutional position apart from the broader policy questions surrounding other parts of the digital-asset market.
Mitchnick said BlackRock's IBIT continues to resonate with institutional investors, financial advisors, and direct investors. BlackRock has also extended its crypto product lineup to include Ethereum, with both non-staking and staking products, and added a Bitcoin premium-income product during the summer.
On stablecoins, Mitchnick said BlackRock is focused on growth beyond crypto trading, including cross-border payments and capital markets, with the implementation of the Genesis Act approaching.