SOL, XRP ETF filings are ‘call options’ on Trump win: Bloomberg analyst
The flurry of filings to record different cryptocurrency exchange-traded funds (ETFs) within the United States are “call options on a Trump victory” within the upcoming presidential elections, Eric Balchunas, an ETF analyst at Bloomberg Intelligence, mentioned on Oct. 25.
“If [former US president Donald] Trump wins […] he will definitely put in a more libertarian [Securities and Exchange Commission] chair,” Balchunas mentioned through the Plan B Forum convention in Lugano, Switzerland.
“So if you see a Trump victory, watch this space, and if you see a [Kamala] Harris victory, just forget about it for a couple of years,” Balchunas mentioned.
Eric Balchunas talking on the Plan B Forum in Lugano. Source: Cointelegraph
Bitcoin (BTC) and Ether (ETH) ETFs have been listed within the US in January and July, respectively, after years of resistance from the SEC.
Now, issuers are in search of to register ETFs for different tokens, together with Solana (SOL) and XRP (XRP).
In July, securities change Cboe requested regulators for permission to record VanEck’s and 21Shares’ deliberate SOL ETFs.
In October, ETF issuers Canary Capital and Bitwise each filed for proposed XRP ETFs. Canary additionally filed to register a spot Litecoin (LTC) ETF on Oct. 15.
Three in 4 crypto homeowners mentioned a candidate’s crypto coverage will impression how they vote. Source: Gemini
The November election pits Republican nominee Donald Trump — who has mentioned he needs to make America “the crypto capital of the world” — towards Democrat Kamala Harris, who has been comparatively quiet on the {industry}.
Vice President Harris is friendlier towards cryptocurrency than her boss, President Joe Biden, however not as pro-industry as Trump, Galaxy Research mentioned on Oct. 14.
Under Biden, the SEC has taken an aggressive regulatory stance towards crypto, bringing upward of 100 regulatory actions towards {industry} corporations.
In July, Trump promised to “fire” Gary Gensler, who presently heads the SEC, if he wins the election.
Top ETF launches in 2024. Source: The ETF Store
Cryptocurrency funds accounted for 13 of the 25 largest ETF launches in 2024 by inflows by means of August, in accordance with a submit on the X platform by Nate Geraci, president of The ETF Store, an funding adviser.
Bitcoin has dominated the ETF panorama this 12 months, accounting for six of the highest 10 most profitable launches in 2024, Geraci mentioned in an X submit.
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