Eric Balchunas, an ETF analyst at Bloomberg Intelligence, said the filing on Oct. 25 to list an alternative cryptocurrency exchange-traded fund (ETF) in the U.S. is a “call option on a Trump victory” in the upcoming presidential election. said.
“If (former U.S. President Donald) Trump wins (…) he will definitely appoint a more liberal (Securities and Exchange Commission) chairman,” Balchunas said at the Plan B Forum conference in Lugano, Switzerland.
“So if you see Trump winning, watch this space, and if you see (Kamala) Harris winning, forget about it for a few years,” Balchunas said.
Eric Balchunas speaking at the Plan B Forum in Lugano. Source: Cointelegraph
Bitcoin (BTC) and Ethereum (ETH) ETFs were listed in the US in January and July, respectively, after years of resistance from the SEC.
Now the issuer is exploring ETF listings for other tokens, including Solana (SOL) and XRP (XRP).
Last July, stock exchange Cboe asked regulators for permission to list the SOL ETF planned by VanEck and 21Shares.
Last October, ETF issuers Canary Capital and Bitwise both filed proposals for an XRP ETF. Canary also applied for registration of a spot Litecoin (LTC) ETF on October 15.
Three out of four cryptocurrency owners say a candidate’s cryptocurrency policies will affect how they vote. Source: Gemini
The November election will pit Republican candidate Donald Trump, who has said he wants to make the U.S. the “crypto capital of the world,” and Democrat Kamala Harris, who has been relatively quiet in the industry.
Vice President Harris is more friendly to cryptocurrency than her boss, President Joe Biden, but is not as friendly to the industry as Trump, Galaxy Research said on October 14.
Under Biden, the SEC has taken an aggressive regulatory stance on cryptocurrencies, taking more than 100 regulatory actions against companies in the industry.
Last July, Trump promised to fire current SEC Chairman Gary Gensler if he won the election.
Best ETF launches in 2024. Source: ETF Store
Thirteen of the 25 largest ETF launches of 2024 with inflows through August were cryptocurrency funds, according to a post on the
Bitcoin dominated the ETF landscape this year, accounting for six of the 10 most successful launches of 2024, Geraci said in an X post.
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