U.S. Midterm Election Results Won't Alter Crypto Industry Growth Trends; Both Grayscale and BlackRock See Overseas Demand and Institutional Adoption as Key

Odaily reports: Grayscale believes the crypto industry's future depends more on overseas demand and institutional adoption than on Washington. Zach Pandl, Head of Research at Grayscale, stated that the GENIUS Act is an important development for stablecoins, but regulatory clarity and institutional adoption have deeper foundations; he previously estimated that 80% to 85% of global crypto activity occurs outside the United States, and noted that demand for U.S. dollar stablecoins is growing in South America and Southeast Asia. Robert Mitchnick, Head of Digital Assets at BlackRock, said that the U.S. midterm elections have limited impact on BlackRock's crypto business, and that Bitcoin and Ethereum already have most of the regulatory clarity needed for investment products.