Solana, XRP ETF Approval Hinges on 2024 US Election
The post Solana, XRP ETF Approval Hinges on 2024 US Election appeared on BitcoinEthereumNews.com.
Nate Geraci, President of The ETF Store and a seasoned voice in the crypto market, recently shared his perspective on how the 2024 U.S. presidential election could influence the future of Solana (SOL) and XRP ETFs. His latest analysis specifically involves SOL, XRP, Litecoin (LTC) and other altcoins. What are the Odds of Approval for Solana, Litecoin & XRP ETFs? In his note, Geraci emphasized that “the impact of elections is typically overstated when it comes to investing.” However, he also acknowledged that political shifts could significantly shape the regulatory scene for crypto ETFs. Geraci noted that while the identity of the president or the party controlling Congress may not drive major market movements, elections do “shape the regulatory environment surrounding investing.” This could indeed have crucial implications for the ETF industry. The election outcome could have implications for the ETF industry… 3 key areas I’m watching: 1) Crypto ETFs 2) ETF Share Class Structure 3) ETF Taxation My latest via @etfcom… https://t.co/h0gGa77KYG — Nate Geraci (@NateGeraci) November 5, 2024 A key area of focus is leadership in the U.S. Securities and Exchange Commission (SEC), an agency Geraci described as playing “a critical role in the pace of ETF innovation.” The next SEC chairman’s stance on crypto will likely determine how quickly new products, including altcoin ETFs, could come to market. A Look At Crypto ETF Scene Crypto ETFs have already made significant strides, with the SEC’s approval of both spot Bitcoin and Ether ETFs. Now, several issuers are eyeing products for Solana, XRP and Litecoin. In a noteworthy development, Grayscale has proposed converting its Digital Large Cap Fund, which holds assets in Bitcoin (BTC), Ethereum (ETH), Solana, XRP, and Avalanche, into an ETF. Updated chart w/ spot btc ETFs hitting $24bil net inflows… Shows cumulative flows into physical gold…
Filed under: News - @ November 5, 2024 10:25 pm