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The CLARITY Act did not advance in the Senate, and Brian Armstrong said the SEC and CFTC would proceed to establish clear rules
Brian Armstrong posted on the X platform stating that the CLARITY bill failed to advance in the Senate today, which is disappointing. Bipartisan dialogue may continue, and the bill could be re-introduced in the future, but further waiting for Congress is no longer acceptable. The SEC and CFTC can establish clear rules based on their existing authorities; he expects both agencies to begin earnestly advancing related work, so in any case, clarity in cryptocurrency regulation will arrive.
Crypto Stocks Sink After Senate Rejects Clarity Act
Crypto stocks were a sea of red Tuesday after the Senate failed to advance the Clarity Act, dealing a major blow to an industry that has spent years — and hundreds of millions of dollars in campaign contributions — gunning for a comprehensive U.S. regulatory framework. Circle dropped over 11%, Coinbase fell more than 10%, Riot declined 6%, Strategy slid over 5%, and Robinhood dropped more than 3%.
The declines came after the Senate voted 49-50 on a procedural motion to advance the Digital Asset Market Clarity Act, well short of the 60 votes required. The bill would have set rules for how different cryptocurrencies and blockchain projects are treated in the U.S., while giving the Commodity Futures Trading Commission (CFTC) greater authority over crypto spot markets. Its failure means the industry will have to wait longer for the kind of legislation many companies have argued they need to make long-term plans in the U.S.
The Senate vote wasn't necessarily responsible for the entire selloff. Tuesday's trading was also shaped by investors cutting risk ahead of Wednesday's Federal Reserve decision which will likely end with a rate hike.
View: The primary reason for the failure of the CLARITY Act is Trump launching the TRUMP token
Overseas crypto KOL Brady Dale posted on X that the three responsible for the failure of the CLARITY Bill are: first, $Trump, due to his launch of the $TRUMP token; second, Tim Scott, who insisted on wasting Senate time developing his own version, draining the last remaining legislative momentum after the GENIUS Bill passed; third, Cynthia Lummis.
Bitcoin & Ethereum Spot ETF Flow
Bitcoin Spot ETF saw a total net outflow of 450.33M USD yesterday, with none of the twelve ETFs experiencing a net inflow
According to SoSoValue data, Bitcoin spot ETF saw a total net outflow of 450.33M USD yesterday (Eastern Time, September 15th).
The Bitcoin Spot ETF with the highest net outflow yesterday was Fidelity's ETF FBTC, with a daily net outflow of 214.75M USD, and the total historical net inflow of FBTC currently stands at 10.12B USD.
The second highest was BlackRock's ETF IBIT, with a daily net outflow of 161.69M USD, and the total historical net inflow of IBIT currently stands at 63.98B USD.
As of the time of publication, the total net asset value of Bitcoin Spot ETFs is 95.72B USD, with an ETF net asset ratio (market capitalization relative to the total Bitcoin market cap) of 6.28%. The historical cumulative net inflow has reached 54.86B USD.
Ethereum spot ETF had a net outflow of $141 million yesterday, with BlackRock's ETHA recording the largest net outflow of $97.9738 million
According to SoSoValue data, the total net outflow of Ethereum spot ETFs yesterday (Eastern Time September 15) was $141 million. The Ethereum spot ETF with the largest net inflow yesterday was BlackRock Staked $ETH ETF ETHB, with a single-day net inflow of $12.3788 million. Currently, the total historical net inflow of ETHB has reached $857 million.
Next is the 21Shares ETF TETH, with a single-day net inflow of $2.4028 million. Currently, the total historical net inflow of TETH has reached $33.7738 million.