Crypto Stocks Rally as House Advances Key Regulatory Bills

Crypto-related stocks surged Thursday after the U.S. House of Representatives passed two landmark bills aimed at regulating digital assets, signaling long-awaited clarity for the industry. Investors responded positively, pushing major crypto equities to fresh highs despite subdued movement in token prices.

Coinbase (COIN), the largest U.S. crypto exchange, rose 3.2% to close above $410 for the first time, pushing its market cap past $100 billion. Stablecoin issuer Circle (CRCL), behind the $62 billion USDC, gained 0.8% after recovering from an early dip and extending its previous day’s 19% surge.

Trading app Robinhood (HOOD), which is expanding its footprint in crypto and tokenized assets, jumped 2.6% to a record high above $105. Meanwhile, Galaxy Digital (GLXY), a major crypto investment firm, advanced 6% on the day.

The rally came as lawmakers approved the Digital Asset Market Structure Bill (CLARITY Act) and the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS Act). The latter had already cleared the Senate, bringing it one step closer to becoming law and setting regulatory frameworks for stablecoins like USDC.

Despite bullish sentiment in equities, digital asset prices were mixed. Bitcoin (BTC) hovered around $119,000, down 0.9% for the day, while Ethereum (ETH) remained flat at $3,400. XRP saw a notable gain, climbing 8% over 24 hours and nearing its 2018 all-time high.

The passage of both bills marks a pivotal moment for the crypto industry as U.S. regulators move closer to comprehensive oversight. With market structure and stablecoin regulations advancing, investor optimism is growing around a more mature and secure digital asset environment.