Franklin Templeton, managing $1.79 trillion in assets, has formally endorsed the CLARITY Act alongside BlackRock, Fidelity, and Goldman Sachs as senators review updated Senate bill text. The coalition represents a critical mass of institutional capital pushing for legislative clarity on crypto asset classification, custody standards, and market structure obligations. The breadth of the coalition materially increases the probability of the bill advancing through the Senate.
For Armada's crypto repo desk, the CLARITY Act's treatment of digital assets as securities versus commodities directly determines how BTC, ETH, and SOL collateral is classified, which regulators hold oversight, and what counterparty disclosures are required. Changes to custody and rehypothecation language in the bill could also intersect with Armada's no-rehypothecation policy and Fireblocks custody framework.