Crypto Industry's Policy Win Fails to Translate into Fresh Demand

The Senate Banking Committee's advancement of the Digital Asset Market Clarity Act brought a much-needed policy win for the crypto industry. However, this development was met with skepticism by investors, who remained cautious about committing to Bitcoin ETFs.

Despite the improved legal backdrop, large holders and ETF allocators continued to be hesitant to invest in Bitcoin, leading to a significant outflow of funds from listed products. This outcome underscores the fact that policy clarity is still not enough to drive fresh spot demand for crypto assets.