Impact of US Presidential Election on Cryptocurrency ETFs

The surge in applications for listing alternative cryptocurrency exchange-traded funds (ETFs) in the US is seen as a bet on a Trump victory in the upcoming presidential elections. Eric Balchunas, an ETF analyst at Bloomberg Intelligence, suggested that if Trump wins, he would appoint a more libertarian chair for the Securities and Exchange Commission (SEC). Conversely, a victory for Kamala Harris would likely delay ETF approvals. The US saw the listing of Bitcoin and Ether ETFs earlier this year, with plans for ETFs on other tokens like Solana and XRP in progress. The election outcome is crucial for the crypto industry, as Trump aims to make the US a crypto hub, while Harris has a more reserved stance. The ETF landscape is evolving rapidly, with cryptocurrency funds making up a significant portion of new launches in 2024. Read more AI-generated news on: https://app.chaingpt.org/news