Asset managers with $30 trillion back Clarity Act

A coalition of major asset managers managing more than $30 trillion collectively has formally endorsed the proposed Digital Asset Market Clarity Act, intensifying pressure on the U.S. Senate to pass comprehensive digital asset legislation. BlackRock, Fidelity, Goldman Sachs, and Charles Schwab have all signaled support for the bill, which aims to define regulatory responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

BlackRock’s endorsement was conveyed in a July 27 statement provided to Politico by Samara Cohen, the firm’s Global Head of Market Development. Cohen described the bill as an important step toward establishing an investor-focused regulatory framework that could support innovation while preserving market transparency and investor protections. BlackRock’s position carries significant weight given its status as the world’s largest asset manager and its substantial existing digital asset business, which includes Bitcoin exchange-traded funds and tokenized treasury funds.

Their backing adds to a growing institutional consensus. Fidelity publicly called for Senate approval, framing the legislation as a...