Market Expert Explains Why Election Outcome Is Key For Solana And XRP ETFs
The post Market Expert Explains Why Election Outcome Is Key For Solana And XRP ETFs appeared on BitcoinEthereumNews.com.
President of The ETF Institute, Nate Geraci, says the upcoming election will profoundly impact the future of crypto ETFs. The approval of new spot ETFs for assets such as Solana, XRP, and Litecoin is of particular interest. 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. Election Outcome Could Shape Future of Solana and Crypto ETFs 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. A Kamala Harris-led administration continuance from the Biden Administration that was being cautious might make things go slow. A Trump administration would create a more congenial atmosphere where innovation and approvals of ETFs would possibly hasten. 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 Nate Geraci said that successful spot Bitcoin and Ether ETFs have inspired a push for new crypto products. This includes potential spot ETFs for Solana, XRP, and Litecoin. Grayscale now wants to convert its Digital Large Cap Fund into an ETF. Besides Bitcoin and Ether, the fund contains tokens from Solana, XRP, and Avalanche. Conversely, a Kamala Harris presidency would likely continue the same cautiousness toward crypto as the Biden administration. While there was a clear path that Bitcoin and Ether ETFs took about 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. Trump, on his part, has indicated that his administration will be much friendlier toward crypto. 30+ Fund Firms, Including BlackRock, Seek SEC Approval for ETF Share Classes Over 30 fund firms,…
Filed under: News - @ November 6, 2024 1:18 am