According to CoinMeta, Grayscale ( Grayscale ) and BlackRock ( BlackRock ) believe that although the Democratic Party's victory in controlling both houses of the U.S. Congress may hinder crypto legislation, it will not significantly change the long-term development trend of digital assets. Grayscale's head of research, Zach Pandl, estimates that approximately 80% to 85% of global crypto activity occurs outside of the United States. The demand for stablecoins in South America and Southeast Asia, as well as the continued participation of traditional financial institutions, will support the industry's growth. He pointed out that companies such as Visa, Mastercard, and Stripe are expanding their stablecoin businesses, and BlackRock, Franklin Templeton, and JPMorgan Chase have also launched tokenized investment funds. BlackRock's head of digital assets, Robert Mitchnick, stated that the results of the mid-term elections in the United States are not expected to have a significant impact on the issuance of their crypto products or capital flows. The related investment products of BTC and ETH already have a relatively clear regulatory foundation.