Bitcoin has accelerated as Stablecoins gained legal support, with BlackRock promoting US regulations as a turning point, highlighting Bitcoin’s unparalleled alpha in the digital market.
Bitcoins as pure alpha while BlackRock Eyes Stablecoins rewire global finance
BlackRock released its latest weekly market commentary on July 28, highlighting the accelerated mainstream adoption of digital assets and formal integration of Stablecoins into the financial system.
Asset management companies emphasized the passing of the Genius Act, which establishes a stable regulatory framework by defining it as a payment tool rather than an investment product. The law prohibits interest payments on Stablecoin Holdings and restricts issuance to federally regulated banks and approved non-banks. BlackRock framed the move as a way to strengthen the role of the US dollar in global trade and payments by advancing national leadership in digital assets. The company states:
We consider Stablecoins to be a new part of the future of finances. And the new US law aims to put the US at the heart of digital asset innovation. We still consider the adoption of Bitcoin as a clear factor in risk and returns.
Stablecoin issuers must hold reserves in short-term assets, including US Treasury bills that include less than 93 days of maturity, repurchase agreements and money market funds. Tether and Circle currently holds an estimated $120 billion in Treasury bills. This represents just 2% of the total market. Despite the rapid expansion of the Stablecoin sector, it is now worth around $250 billion, but BlackRock downplayed fears of bond market turmoil.
The commentary also warned that in advanced economies, the inability to make profits could hinder stubcoin capture, but emerging markets could benefit from access to dollar-related digital payments.
Wide range of digital asset regulations are gaining momentum. Alongside the Genius Act, another bill under consideration is intended to clarify the responsibility for oversight across the US financial regulators. BlackRock noted that it had an impact on the broader crypto ecosystem for Bitcoin, which recorded a strong rallies in 2025, especially Bitcoin.
This is the banner year for Bitcoin, as the US has grown 25% this year, bringing digital payments and assets into the mainstream, adopting several key laws aimed at making the US the world’s crypto capital.