Bits + Bips: Why Bitcoin Has the Least to Gain From the Clarity Act

Watch on YouTube ↗  |  July 25, 2026 at 05:14  |  9:01  |  Unchained (Chopping Block)
Speakers
Cole Kennelly — Founder and CEO of Volmex Labs

Summary

Cole Kennelly of Volmex Labs explains the small premium on IBIT options over offshore Bitcoin options and argues Ethereum, Solana, and Hyperliquid have more to gain from the Clarity Act than Bitcoin. He also shares a year-end outlook that institutional appetite for tokenization and stablecoins could lift major crypto assets.

  • BVIV-US (IBIT options) trades at a slight premium to BVIV (global offshore options)
  • Regulated ETF options market is now similar in size to offshore market (~$25B daily notional)
  • Bitcoin is clearly a commodity, so the Clarity Act has the least impact on it
  • Ethereum, Solana, and Hyperliquid have more to gain from regulatory clarity
  • Recent 7-day performance shows Ethereum up ~1% vs Bitcoin up ~0.5%, potentially reflecting that asymmetry
  • Volmex term structure out to 180 days shows no imminent volatility spike despite the Clarity Act
  • Strong institutional appetite for tokenization, blockchain infrastructure, and stablecoins could drive crypto by year-end
  • Cole expects a very different and more institutionally driven crypto market later in 2025
Ideas
Cole Kennelly Founder and CEO of Volmex Labs 3:32
ETH, SOL, HYPE benefit most from Clarity Act
The Clarity Act will clarify what is a security and what is a broker, benefiting decentralized applications and exchanges built on top of Ethereum and Solana. Bitcoin is already clearly a commodity under CFTC remit, so it has the least to gain. Platforms like Hyperliquid have a lot to gain from increased regulatory clarity. Recent 7-day outperformance of Ethereum (~1%) over Bitcoin (~0.5%) may already reflect this dynamic.
HYPE ETH SOL HIGH
Cole Kennelly Founder and CEO of Volmex Labs 7:20
Institutional flows to boost BTC, ETH, SOL by year-end
By the end of the year, crypto could look a lot different driven by strong institutional appetite for tokenization, blockchain infrastructure, and stablecoins. This institutional interest could translate back into liquid majors Solana, Ethereum, and Bitcoin, suggesting upside for these assets even though the term structure does not yet show elevated volatility.
BTC MED
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This Unchained (Chopping Block) video, published July 25, 2026, features Cole Kennelly discussing HYPE, ETH, SOL, BTC. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Cole Kennelly  · Tickers: HYPE, ETH, SOL, BTC