Equities tied to the digital asset ecosystem rallied sharply on Thursday after the U.S. House of Representatives passed two major cryptocurrency bills, signaling a potential shift toward clearer regulatory frameworks.
Coinbase (COIN) climbed 3.2%, closing above $410 and pushing its market cap beyond $100 billion — a first for the crypto exchange. Circle (CRCL) added 0.8%, building on its multi-day rally as optimism returned to the stablecoin sector.
Robinhood (HOOD) soared 2.6% to a record high above $105, fueled by investor enthusiasm for its growing presence in crypto markets. Galaxy Digital (GLXY) led gains among digital asset financial firms, rising over 6%.
The bullish sentiment followed House approval of two key bills: the CLARITY Act, which introduces a formal structure for digital asset oversight, and the GENIUS Act, a stablecoin-focused framework already passed by the Senate. The latter is now headed to the president’s desk for final approval.
Crypto markets showed mixed reactions. Bitcoin (BTC) dipped 0.9% to around $119,000, while Ether (ETH) remained steady near $3,400. XRP surged 8%, coming within 3% of its 2018 all-time high, buoyed by strong futures demand and ETF speculation.
The legislation is viewed as a milestone in establishing U.S. crypto policy and could pave the way for deeper institutional participation if signed into law.
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