Grayscale's June research report highlights a promising outlook for crypto assets in the latter half of 2025, driven by regulatory and macroeconomic factors. The GENIUS Act, aimed at introducing regulated payment stablecoins in the U.S., has passed the Senate with bipartisan support and awaits approval from the House of Representatives. Additionally, Circle's successful listing is seen as a positive development. Grayscale anticipates that increased regulatory clarity, coupled with potential macroeconomic shifts such as large budget deficits and possibly lower interest rates, will bolster the crypto market.