Election Outcome Could Shape Future of Solana and Crypto ETFs
- Barbara StreisandOriginal
- 2024-11-06 06:20:23606browse
The future of crypto ETFs might take shape after this election, believes Nate Geraci, President of The ETF Institute. In particular, the eventual approval of new spot ETFs for assets like Solana, XRP, and Litecoin is expected.
The upcoming election will have a profound impact on the future of crypto ETFs.
If Kamala Harris is elected, we can expect a continuation of the Biden administration's cautious approach to crypto. This might delay the approval of new spot ETFs for assets such as Solana, XRP, and Litecoin.
However, if Donald Trump is re-elected, we could finally see a friendlier crypto environment in which ETF innovation accelerates.
President of The ETF Institute Nate Geraci says the upcoming election will determine the future of crypto ETFs.
A Kamala Harris administration, which many expect will be an extension of the Biden administration's cautious approach to crypto, might delay progress in this area. Meanwhile, a Trump administration could finally mean a friendlier crypto environment in which ETF innovation accelerates.
The election outcome is also expected to influence the approval of new spot ETFs for assets like Solana, XRP, and Litecoin.
“The successful launch of spot Bitcoin and Ether ETFs has spurred a wave of interest in new crypto products, including potential spot ETFs for Solana, XRP, and Litecoin,” Geraci said.
Grayscale, for instance, is planning to convert its Digital Large Cap Fund, which tracks the performance of the top crypto assets by market cap, into an ETF. In addition to Bitcoin and Ether, the fund also holds tokens from Solana, XRP, and Avalanche.
A Kamala Harris presidency, however, would likely see a continuation of the Biden administration's cautious approach to crypto.
“While there was a clear path that Bitcoin and Ether ETFs took toward approval by the SEC, including futures-based products, there is no such framework for other crypto assets, and thus, a path forward is not well understood,” Geraci added.
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