Advancement of the CLARITY Act — Which classification result for BTC and ETH has a greater impact on their valuation?

Election funding, asset classification, and tax policy are advancing simultaneously, and political investment in the crypto industry is finally beginning to pay off. But the core controversy of the CLARITY Act is how to classify BTC and ETH. Once clarified, it will directly affect their regulatory costs and institutional entry pathways.

I believe the valuation impact on ETH will be greater. The probability of BTC being classified as a commodity is already high, and the classification result is unlikely to change much. ETH, due to its financial attributes like staking, DeFi, and NFTs, would face stricter compliance costs and potential legal risks if classified as a security. Its valuation would be discounted first.

Once the classification result is out, ETH is likely to face a larger regulatory premium discount than BTC.