Bitwise: The Impact of the GENIUS Act is Comparable to a Bitcoin Spot ETF

According to a report by Jinse Finance, Bitwise Chief Investment Officer Matt Hougan stated, "On Monday, the U.S. Senate passed the conclusion debate of the 'GENIUS Act' with a vote of 66 in favor and 32 against, with 16 Democratic senators crossing party lines to vote in favor. This act provides a solid regulatory framework for stablecoins in the United States. Apart from the Bitcoin spot ETF approved in January 2024, this is the most significant regulatory development in the history of cryptocurrency, and it may even be more important. I believe this lays the foundation for the long-term sustained rise of crypto assets beyond Bitcoin. The biggest beneficiaries are Ethereum (ETH), Solana (SOL), and various decentralized finance (DeFi) assets such as Uniswap (UNI) and Aave (AAVE)."