Analysts informed Cointelegraph that crypto prices may be influenced by proposed legislation regarding crypto market structure, stablecoins, and a surge in exchange-traded products (ETPs) in the fourth quarter, especially following a period dominated by assets linked to digital treasuries.
In a report published on Thursday, the research team at Grayscale, a crypto asset management firm, indicated that legislation in the US known as the CLARITY Act could serve as a “comprehensive financial services legislation” and might act as “a catalyst for deeper integration with the traditional financial services sector.”
Additionally, the Securities and Exchange Commission’s approval of a generic listing standard for commodity-based ETPs could enhance inflows by expanding the “number of crypto assets available to US investors.”
The researchers suggested that “crypto assets are likely to benefit from Fed rate reductions,” noting that the Federal Reserve reduced rates for the first time since last year on September 17, with potential further cuts ahead.
However, JPMorgan CEO Jamie Dimon expressed skepticism about further rate reductions, remarking that the Fed might struggle to lower rates unless inflation diminishes.
Stablecoin chains may thrive this quarter
Edward Carroll, head of markets at crypto and blockchain investment firm MHC Digital Group, discussed with Cointelegraph his belief that the growth of stablecoins will significantly impact returns in Q4.
US President Donald Trump signed the GENIUS Act into law in July, aimed at creating clear guidelines for payment stablecoins, though it is still awaiting final regulations for implementation.
“This should positively influence any chain supporting stablecoins, including Ethereum, SOL, Tron, BNB, and Ethereum layer 2s, as well as the companies developing and offering these products,” Carroll stated.
Simultaneously, he anticipates that institutional tokenization applications will start to gain momentum as larger players explore tokenized money market funds, bank deposits, and exchange-traded funds (ETFs).
Bitcoin and altcoins may also see a strong quarter
Pav Hundal, lead analyst at Australian crypto broker Swyftx, conveyed to Cointelegraph that increased funds and automated contributions are driving more money into crypto, and a Bitcoin (BTC) rally towards the year’s end could trigger a surge in altcoins in Q4.
A recent report from financial services provider River revealed that ETFs are acquiring approximately 1,755 Bitcoin daily in 2025.
“Unless an unexpected event disrupts the market, Bitcoin is expected to reach new highs before year-end, which will, in turn, boost altcoins,” Hundal noted.
“2025 has been characterized by a rotational market, with altcoins performing well following initial Bitcoin rallies. I foresee no reason for this pattern to change. During rotations, key performers have included memecoins and DeFi applications such as Pump.fun, Hyperliquid, and Aster.”
Last quarter, Hundal mentioned that a major trend was US-listed companies transitioning to digital asset treasuries, with Ether (ETH), Solana (SOL), and Hype being top performers recently.
Related: Crypto treasury share buybacks could indicate a ‘credibility race’ is underway
DeFi revenue-generating projects might also thrive
Henrik Andersson, chief investment officer of Apollo Crypto, shared with Cointelegraph his expectation that Q4 will witness ETF approvals in the US, including for staked assets, along with the passage of the CLARITY Act.
“From a sector perspective, we believe revenue-generating projects within DeFi will continue to perform strongly. Themes surrounding stablecoins and RWA will likely remain significant overall.”
However, he cautioned that “expectations for rate cuts in the US may not meet reality, as the economy and labor market appear more robust than the Fed anticipated when it reduced rates.”
In the previous quarter, Andersson noted that Hyperliquid and Pump buybacks created significant waves within the crypto markets, accompanied by the “growth of digital asset treasuries.”
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