Charles Schwab crypto research head says Clarity Act not priced into Bitcoin

Jim Ferraioli, the Director of Digital Currencies Research and Strategy at Charles Schwab’s Center for Financial Research, has dropped a number that should make traders sit up straight. According to Ferraioli, the Digital Asset Market Clarity Act, one of the most consequential pieces of crypto legislation in US history, has contributed only about 4% to Bitcoin’s daily price movements. The bill that Wall Street is watching The CLARITY Act, formally known as H.R. 3633, is designed to answer a question that has haunted crypto for years: who’s actually in charge here? The bill draws a line between the SEC and the CFTC, designating assets like Bitcoin and Ethereum as “digital commodities” that fall primarily under CFTC jurisdiction while preserving some regulatory authority for the SEC. The bill passed the full House in July 2025. It then cleared the Senate Banking Committee with a 15-9 bipartisan vote on May 14, 2026. Full Senate approval is still pending, with negotiations continuing to shape the final language ahead of a critical legislative deadline in August. Why Schwab’s voice matters here Charles Schwab manages roughly $13 trillion in client assets. The firm offers direct Bitcoin...