SOL, XRP ETF documents are ‘call options’ on Trump victory: Bloomberg analyst
The filing flow for alternative cryptocurrency exchange-traded funds (ETFs) to list in the United States is “call options” in the upcoming presidential election, Bloomberg Intelligence ETF analyst Eric Balchunas said on October 25.
“if so [former US president Donald] Trump will win […] It definitely makes it more liberating [Securities and Exchange Commission] Balchunas said at the Plan B Forum conference in Lugano, Switzerland.
“So if you see a Trump victory, look at this place and if you see it [Kamala] Harris' win, forget about it for two years,” Balchunas said.
Eric Balchunas speaking at the Plan B stage in Lugano. Source: Cointelegraph
Bitcoin (BTC) and Ether (ETH) ETFs were listed in the US in January and July, respectively, after years of opposition from the SEC.
Now, issuers are looking to register ETFs for other tokens, including Solana (SOL) and XRP (XRP).
In July, securities exchange Cboe requested permission to list VanEck and 21Shares' proposed SOL ETFs.
In October, ETF issuers Canary Capital and Bitwise both offered ETFs for the proposed XRP. Canary also offers to register Litecoin (LTC) ETF on October 15th.
Three out of four crypto holders say the candidate's crypto policy will influence how they vote. Source: Gemini
November's Republican candidate Donald Trump – who has said he wants to make the US “the cryptocurrency capital of the world” – has been quiet on the industry compared to Democrat Kamala Harris.
Vice President Harris is more pro-industry than her boss, President Joe Biden, but not as much as Trump, Galaxy Research said on Oct. 14.
Under Biden, the SEC has taken an aggressive regulatory stance on crypto, bringing more than 100 regulatory actions against industry companies.
In July, if Trump won the election, he promised to “fire” Gary Gensler, who currently heads the SEC.
The top ETF will launch in 2024. Source: ETF Store
Cryptocurrency funds accounted for 13 of the 2024 inflows of funds in the month of August, according to data posted by ETF Store President Investment Advisor Nate Geracchi on the X Forum.
Bitcoin has dominated the ETF landscape this year, accounting for six of the top 10 startups in 2024, Geraci told XPost.
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