NEW YORK, July 21, 2026, 13:11 (EDT) – Stocks in the crypto infrastructure sector climbed higher than bitcoin itself as the CLARITY Act sparked a strong market rally.
- Bitcoin gained 1.5% to reach $66,442 while U.S. cash markets were open.
- Shares in Coinbase Global NASDAQ:COIN rose 11.8%, while Circle Internet Group NYSE:CRCL advanced 8.1%.
- Strategy NASDAQ:MSTR gained 3.7%.
On Tuesday, crypto-related stocks significantly outperformed bitcoin. Companies most directly affected by the latest U.S. regulations saw the highest gains.
Coinbase’s percentage shift was 7.6 times greater than that of bitcoin. Circle saw a move 5.2 times larger, while Strategy’s move was 2.4 times that of bitcoin.
That served as the investor signal. The split indicates an operational catalyst amid the token’s recovery.
Policy developments increased the divide. “We’re at the 1-yard line on the CLARITY Act in the Senate,” Treasury Secretary Scott Bessent said. He called on Congress to pass the bill ahead of its scheduled recess. Yahoo Finance
President Donald Trump agreed to updated ethics language on Monday night, according to reports. Senate Republicans obtained a copy of the draft, but Democrats had yet to examine it.
The Banking Committee approved the bill in a 15-9 vote in May. Two Democrats sided with Republicans, though neither pledged support on the floor. At minimum, seven more Democrats must back the measure for it to fully pass.
| Asset | Price | Day move | Move versus bitcoin | Preliminary value gain |
|---|---|---|---|---|
| Bitcoin | $66,442 | up 1.5% | 1.0x | — |
| Coinbase Global | $179.37 | up 11.8% | 7.6x | $5.0 billion |
| Circle Internet Group | $70.73 | up 8.1% | 5.2x | $1.4 billion |
| Strategy | $101.43 | up 3.7% | 2.4x | $1.2 billion |
Prices reflect data gathered from 12:56 to 13:11 EDT while U.S. cash markets operated. Value amounts are provisional intraday numbers, calculated from current capitalizations.
Coinbase and Circle together increased in value by approximately $6.4 billion—5.3 times the gain seen by Strategy.
Coinbase operates a regulated spot exchange, and Circle is the issuer of USDC. Strategy refers to itself as a bitcoin treasury firm.
The difference stems from the business mix. Shares of exchanges and stablecoins are directly affected by the regulatory environment. The strategy is still primarily linked to bitcoin and its funding cycle.
Support for Bitcoin extended outside of Washington as well. U.S. spot funds attracted upwards of $700 million across five consecutive sessions, marking the longest run of inflows since May.
FxPro chief market analyst Alex Kuptsikevich described whale accumulation as a “constructive signal.” He pointed to sustained buying from larger wallets over the last two months. CoinDesk
The Senate Banking draft released on May 20 includes a temporary-hold safe harbor. This provision applies to approved stablecoin issuers as well as digital-asset service providers.
Companies can postpone a transaction for up to 30 days. If a certified agency submits a request, the suspension can be extended for another 150 days. Good-faith holds are shielded from private legal action.
The draft does not mandate any additional freezes apart from what is already set by law. It maintains current government enforcement authority and legal seizure capabilities.
Montana Attorney General Austin Knudsen supported the shield in an op-ed for The Hill, stating it would safeguard companies from civil lawsuits for voluntary freezes.
The policy deal continues to face text issues. As of Tuesday, the updated ethics language was not released. Backing from Democrats was still not assured. Provisions on AML and customer checks were also unresolved.
Risks: The surge depends on incomplete legislation and unclear voting outcomes. Any postponement or stricter compliance requirements may reduce some of the equity premium.
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