Guy Fawkes 
In BlackRock Bitcoin news, the asset manager has formally endorsed the CLARITY Act, the most consequential piece of US crypto regulation legislation currently before Congress, and Coinbase Vice Chairman Ryan VanGrack made sure no one missed it.
On July 27, VanGrack posted on X that “BlackRock is officially on board,” citing a Politico report carrying BlackRock’s public statement on the bill.
The announcement crystallizes an unprecedented coalition of traditional finance heavyweights behind a single piece of digital asset legislation, but the vote math in the Senate remains unresolved.
This endorsement came as BTC USD dropped -3% overnight, falling to $63,250, losing key support at $65,000 as today’s FOMC meeting has seemingly spooked the markets. Daily trading volume has dropped to $25.1Bn, down from over $30Bn yesterday.
$BTC failed to hold the $65,000 level.
This happened as the Senate put the Clarity Act on hold.
Now, the next key support level for Bitcoin is $62,000-$65,000.
This should hold, or else BTC will end up giving all the gains. pic.twitter.com/CVFjOqdY4Q
— Ted (@TedPillows) July 28, 2026
What the BlackRock Bitcoin and CLARITY Act Endorsement Means
Samara Cohen, BlackRock’s Senior Managing Director and Global Head of Market Development, described the CLARITY Act as “an important step toward establishing a regulatory framework for digital assets that puts investors first,” according to the statement provided to Politico.
Cohen added that the legislation would help the United States shape the next era of crypto market structure while preserving the transparency, resilience, and investor protections that underpin US capital markets leadership.
We got our answer. @BlackRock is officially on board.
The world’s largest asset manager joins @CharlesSchwab, @Fidelity, @GoldmanSachs in backing Clarity.
Your turn, Congress. https://t.co/28QS7cxKvb
— Ryan VanGrack (@RVanGrack) July 27, 2026
The statement is BlackRock’s clearest public endorsement of any US crypto regulation bill to date. BlackRock now joins Charles Schwab, Fidelity, Goldman Sachs, and Grayscale in backing the legislation, a coalition that spans crypto-native firms and the largest names in global asset management.
Patrick Witt, Executive Director of the President’s Council of Advisors for Digital Assets, pushed back against critics of the endorsement, according to the primary-source report. His response, directed at those skeptical of BlackRock’s involvement, underscored that institutional backing at this scale is not routine.
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What the CLARITY Act Means for Crypto
The CLARITY Act is designed to end the regulatory ambiguity that has driven years of enforcement-led policy from US watchdogs. The bill formally divides digital asset oversight between two federal regulators.
The SEC would retain authority over tokens classified as digital asset securities, while the CFTC would oversee digital commodities. Think of it as a jurisdictional map that replaces a decade of contested turf.
Supporters argue that clearer SEC CFTC boundary lines would reduce litigation risk for exchanges, custodians, and intermediaries, precisely the outcome large institutions like BlackRock need before scaling tokenized funds and on-chain trading desks at any meaningful size.
The bill passed the House with a 294–134 bipartisan vote in July 2025 and cleared the Senate Banking Committee 15–9 in May 2026, per pre-research context.
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The Senate Math Is Still the Problem Even With the BlackRock Bitcoin Endorsement
Institutional momentum and Senate arithmetic are two different things. The CLARITY Act currently needs at least nine additional Senate votes to clear the 60-vote cloture threshold – the procedural bar required to advance a bill to a floor vote. That threshold means at least some Democratic support is not optional; it is a numerical requirement.
Democratic concerns have centered not on crypto policy itself but on ethics provisions and conflict-of-interest rules baked into the bill’s current text, according to the primary source report.
Republican lawmakers are expected to hold further discussions with the White House as those negotiations continue. The effective deadline is the August recess, after which the political window for passage in 2026 narrows sharply given the midterm election calendar.
Chainlink executive Andrew McCormick has separately urged Democratic Senators Cory Booker and Andy Kim to back the legislation, reflecting the ongoing effort to build bipartisan support beyond the existing coalition. Franklin Templeton also publicly endorsed the bill, adding another major asset manager to the growing list of institutional backers.
Whether the combined weight of BlackRock, Goldman Sachs, Fidelity, Schwab, Grayscale, and Franklin Templeton translates into nine Senate votes before the recess is the only question that matters now. The coalition is assembled. The clock is running.
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The post Blackrock Is Latest Asset Manager to Officially Backs CLARITY Act appeared first on 99Bitcoins.
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