Presidential elections in the United States on November 5 can determine the fate of over half a dozen proposed trade funds (ETF) with regulations.
In 2024, asset managers submitted a lot of regulatory applications to the ETFs containing altcoins, including Solana (SOL), XRP (XRP) and Litecoin (LTC).
Issuers are also waiting for the approval of several planned ETFs of cryptocurrency indicators designed to store various token baskets.
As a result, these applications are “options for calling to Trump’s victory” in the American presidential race, Eric Balchunas, an ETF analyst at Bloomberg Intelligence, said on October 25.
Three out of four cryptographic owners said that the candidate’s cryptographic policy would affect the voting. Source: Gemini
Elections, Republican candidate Donald Trump – who said he wants to make America “the capital of cryptocurrency of the world” – against the Democrat of Kamali Harris, who was relatively still in the industry.
According to President Joe Biden – Vice President Harris – the American Commission of Securities and Stock Exchange (SEC) took an aggressive regulatory position against Crypto, bringing an raise in 100 regulatory activities against industry companies.
“If you see Trump’s victory, watch this space, and if you see Harris’s victory, just forget it for several years,” said Balchunas during the Forum Plan B conference in Lugano, Switzerland.
Here’s what to expect from ETF Crypto issuers if Trump wins on November 5.
BTC and ETH run strongly in terms of market capitalization. Source: Coingecko
Altcoin ETFS
In June, Vaneck and 21 Shares funds laid S-1 to register ETF SOL in SEC.
On October 30, the Crypto Asset Canary Capital manager followed his own ETF.
Sec Green Eligled Bitcoin (BTC) and Ether (Ether (ETH) ETFs to mention in January and July, respectively.
Despite this, “it is unlikely that the ETH approval causes a large wave of approval” for other types of ETF cryptocurrencies, Ophelia Snyder, co -founder and president 21.co, said Cointelegraph in June. 21. What is the owner of the Crypto ETF 21 Shares Issuer.
SEC has repeatedly claimed that SOL – unlike BTC and ETH – is security, but plans for the ETF SOL list are “still in the game,” said Matthew Sigel in August, head of research on Vanecka digital assets.
“Vaneck believes that Sol is a commodity, just like BTC and ETH,” said Sigel. “We are obliged to support this position […] to the relevant regulatory bodies. “
Meanwhile, in October and November, Canary Capital, BitWise and 21shares were submitted to the proposed ETF XRP. Canary Capital also submitted an application for registration of the LTC ETF point.
GDLC resources. Source: gray scale.
ETFS of the cryptographic index
On October 29, the NYSE Arca securities stock exchange asked SEC for permission to display the Grayscale Digital Lagp Cap Fund (GLDC) campaign.
“[T]He proposed a change in the principle, if accepted, would represent the first domestic principles of the rules for exchange of securities by allowing the auction and trade in the Multi-Crypto Asset [ETFs]”Grayscale he said.
The fund has a portfolio of the cryptographic index covering BTC, ETH, SOL, XRP and Avalanche (Avax).
“The next logical step is indexing ETF, because the indicators are capable for investors – just like people buy S&P 500 in ETF. It will be the same in crypto, “said Tischhauser.
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