Bitcoin remains above $80,000 as Schwab launches Spot Crypto and Clarity Act faces Senate committee vote

Bitcoin (BTC) The US traded near $80,600 in early trading on Wednesday morning, after opening the session at $80,473.98, down about 1.5% from Tuesday’s start.
Ethereum (ETH) It is trading around $2,299 after opening at $2,274.41, down 2.8% from the previous session. With both major companies holding firm despite warmer-than-expected April US inflation data and a stronger dollar, traders are keeping an eye on President Trump’s summit with President Xi Jinping in Beijing for any updates on risk assets.

Schwab goes live for crypto retail

charles schwabwho largely manages
$11.77 trillion in customer assets 39.1 million active brokerage accounts started opening their spot cryptocurrency trading platforms by the end of March
schwab crypto The first wave of eligible retail customers on Tuesday. This service offers direct Bitcoin and Ethereum trading 75 basis point fee per tradeAnd is available in every US state except New York and Louisiana. Charles Schwab Premier Bank serves as primary custodian
Paxos Handles trade execution and sub-custody.

The launch brings one of the world’s largest traditional brokerages into direct spot crypto for the first time in direct competition with Robinhood, Coinbase and Kraken. Schwab said its clients already hold roughly 20% of all assetsInvested in US spot crypto exchange traded products, indicating underlying demand. Morgan Stanley is also preparing a comparable spot crypto launch through E-Trade.

Clarity Act markup set for Thursday

Senate Banking Committee 309 page is set to be marked Digital Asset Markets Clarity Act But
Thursday, May 14, 10:30am ET. The bill, which has already passed the House in 2025, would split crypto oversight down the middle SEC and CFTCCreating defined regulatory lanes for digital goods, digital asset securities and payment stable coins. Committee Chairman Senator Tim Scott has called this threshold the “red zone”, requiring all 13 Republican votes in the 13 to 11 panel.

Crypto policy analysts have noted that the provisions in the draft would, in effect, prevent the SEC from classifying Bitcoin and Ethereum as securities, linking that status to the existence of the first US listed spot exchange traded products.
1 January 2026. A 60-day non-objection certification process for other token issuers is also included in the draft text. Polymarket users currently underestimate the chances of the Clarity Act becoming law in 2026 by almost
62% to 75% Depends on the contract.

ETF inflows cool after strong April

US spot Bitcoin ETFs are performing mixed in early May. The first week of the month is over $1 billion inflowsBefore trend reversal, with category posting
outflow of $268.5 million There was a selloff on May 7 led by FBTC and IBIT. BlackRock’s iShares Bitcoin Trust (IBIT)The largest fund in the category recorded a small outflow of $7.43 million against $67.25 billion in assets under management on Tuesday, May 12, which analysts attributed to tactical profit-taking rather than a change in sentiment.

Macro background and what it means for investors

US consumer inflation reached an all-time low in April 3.8% year on yearThe highest reading since May 2023 and 3.7% above forecast. The print has pushed Treasury yields higher and traders are planning for a Federal Reserve rate cut by the end of the year. Bitcoin’s resilience above $80,000 in that environment is being read by some desks as a sign that institutional positioning and ETF demand remain structurally supportive, even if the rate backdrop is less favorable.

For investors, setup puts crypto exposed names in focus spot etf issuer And
crypto exchange To
bitcoin treasury companiesPayment processors and the broader blockchain ecosystem. A clean committee vote on the CLARITY Act on Thursday will be the most direct near-term catalyst for the sector, while the Schwab crypto rollout and continued progress on other traditional brokerage launches point to the long-term mainstreaming of digital assets.