President Donald Trump scheduled a White House crypto meeting for Wednesday after the SEC abruptly cancelled its planned session—something that Milk Road analyst John Gillan reads as supportive for passing the CLARITY Act.

What Actually Happened With the SEC Meeting

On the Milk Road Show podcast on Monday, Gillan walked through how three events unfolded in quick succession. 

After the Senate missed its pre-recess window on the CLARITY Act, Majority Leader John Thune (R-SC) set Sep. 15 as the next procedural vote date. 

The SEC then scheduled an open meeting for last Friday to discuss regulatory accommodations for digital assets and tokenization, but canceled it just hours before the meeting, citing an unforeseen scheduling conflict without offering a new date.

However, Trump responded by calling his own White House meeting for Wednesday, Aug. 19, inviting crypto and digital asset industry leaders across the country, with the president planning to attend personally.

Why Gillan Thinks the Market Is Mispricing Clarity

Gillan argued on the podcast that the market is assigning less than a 10% chance to the CLARITY Act passing in 2026. Galaxy Digital recently revised its own estimate from 75% down to 10%, a swing Gillan called a significant mispricing.

He argued that the SEC planned to offer regulatory clarity as an alternative to legislation, but Trump halted that effort and called his own meeting to push for a compromise on the bill instead.

Democrats have tied their support to ethics provisions requiring the Trump family to exit the crypto industry entirely. Whether Wednesday’s meeting produces movement on that question is what Gillan is watching.

“A bill dies nine times before it passes,” Gillan said. “This is far from dead,” he added.

He added that if the Clarity Act does pass, Ethereum (CRYPTO: ETH) is the asset he expects to benefit most, since the legislation would provide clarity to a large share of protocols built in the Ethereum ecosystem.

What Bitcoin Is Doing Through All of This

Bitcoin (CRYPTO: BTC) holds near $64,000 Monday, having absorbed Strategy (NASDAQ:MSTR) selling, the Clarity Act delays, and seasonal weakness without breaking down. 

Gillan noted that Bitwise CIO Matt Hougan recently met with some of Wall Street’s largest institutions and said those firms have made a clear shift toward crypto, with short-term price action and the current bear market doing little to deter them.

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