According to online reports, Matt Hougan, chief investment officer of Bitwise, said,"On Monday, the U.S. Senate passed the closing debate of the GENIUS Act with a vote of 66 to 32, with 16 Democratic lawmakers voting in favor across party lines. The bill provides a solid regulatory framework for stable coins in the United States. In addition to the Bitcoin Spot ETF approved in January 2024, this is the most important regulatory development in cryptocurrency history, and may even be more important than that. I believe this lays the foundation for the long-term sustained rise in crypto assets other than Bitcoin. The biggest beneficiaries are Ethereum (ETH), Solana (SOL) and various decentralized finance (DeFi) assets such as Uniswap (UNI) and Aave (AAVE)."