Grayscale Head of Research Zach Pandl wrote in an Aug. 19 analysis that public blockchain activity could expand under the SEC’s proposed Regulation Crypto Assets rules. The proposal would establish fundraising exemptions allowing eligible issuers to raise up to $5 million over four years or $75 million during each 12-month period, with the larger option carrying expanded disclosure and reporting obligations. Pandl stated that the new guidelines could help unlock and drive value to underlying networks such as Ethereum, Solana, and BNB Chain by resolving regulatory ambiguity around token issuance, stablecoins and decentralized finance. The analysis covers both the networks and their native tokens, while presenting any potential gains as conditional rather than certain.