Progress of the U.S. CLARITY Act Stalled (Issue 1 · Week 28, 2026)

Published2026-07-11

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Based on all eight chapters

2026 Q2 机构资金加速进场：美国现货 BTC ETF 累计净流入 $304B、持仓 114 万枚 BTC（占流通量 5.7%），ETH ETF 累计净流入 $98B，BlackRock 在两条产品线均居首，集中度远超传统资产 ETF。

持仓「质量」结构性改善：RIA 与主权养老金合计占比从上市初的 18% 升至 43%，资金粘性显著高于套利型对冲基金；稳定币机构托管规模突破 $2,100 亿，成为机构进出加密的主通道。

WOOFUN Research 判断仍处「机构配置初期」：Wirehouse 与 401(k) 渠道尚未完全开放，本轮周期高点加密 ETF 合计 AUM 上限有望突破 $1.5T；需警惕 Basis 套利反转与监管周期反复两大尾部风险。

Generated by WOOFUN AI from all eight chapters · For reference onlyGenerated May 20, 2026 at 09:24

01Event Overview

02Course of the incident

03Impact Analysis

04Key points to watch going forward

05Related Reads

Disclaimer: This report is for informational purposes only and does not constitute investment advice. Crypto assets are highly volatile. Please conduct independent research before making decisions.

WOOFUN ResearchOfficial Research Team

WOOFUN's independent research team specializing in institutional crypto flows, on-chain data, and protocol economics. Every report uses three layers of cross-validation with traceable public sources and reproducible methods.

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Data SourcesBloomberg ETF DB · Farside Investors · SEC EDGAR 13F · CME Group · Glassnode · Official issuer disclosures

ConflictsWOOFUN Research authors do not directly hold shares in any ETF covered here. WOOFUN has no commercial or advertising relationship with issuers including BlackRock or Fidelity.

DisclaimerThis report is for research purposes only and does not constitute investment advice. Crypto assets are highly volatile, and past performance does not predict future results.