Hero's Image

The Cost of Regulatory Delay

Hash Insider Weekly

1. MARKET OBSERVATIONS

December 22, 2025 to December 28, 2025

 

NCI Performance (Weekly): The Nasdaq Crypto IndexTM (NCITM) fell 1.1% amid not only neutral price action of its constituintes but also the uncertainty around the CLARITY Act that was postponed to 2026. Despite the mild price action of 2025, the regulatory and technological developments mapped in 2026 could bolster interest and overall performance for crypto assets.

 

Resilience Despite Regulatory Noise

 

BTC, ETH, and SOL held steady through the week, showing limited downside despite renewed uncertainty around the CLARITY Act timeline.1

 

ETF Outflows Stay Contained

 

U.S.-regulated BTC and ETH products saw $782M and $102M in outflows,2 respectively, but flows remain modest relative to cumulative inflows, while SOL products have yet to record outflows in 2025.2

 

Crypto Catalyst Slips to 2026

 

The regulatory agenda slipping into 2026 kept price action muted, but the same framework could resurface as a key driver once timelines regain clarity.3

 

Bank of Russia’s New Framework

 

Another important player is joining the race toward a crypto regulatory framework with the Bank of Russia proposing that non-qualified investors would also be allowed to trade crypto.4

 

Logo Hashdex
The material contained on this website is for informational purposes only and Hashdex, and its affiliates, is not soliciting any action based upon such material. The material is not to be construed as investment advice nor is it to be construed as recommendation, offer or solicitation to buy or sell any financial instrument or product or to adopt any investment strategy. Further, the material contained on this website does not constitute a representation that the financial instruments described therein are suitable or appropriate for any person. Past performance is not an indication of any future performance. Hashdex collects its data from public sources. Therefore, there is no liability for any delays or inaccuracies in the information due to the updating schedule of these sources. This website may contain advertising of financial products.