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Trump’s presidency: A game changer for XRP, Solana ETFs?
The post Trump’s presidency: A game changer for XRP, Solana ETFs? appeared on BitcoinEthereumNews.com. Bitcoin and Ethereum ETFs experienced significant outflows on the 1st of October, totaling millions. U.S. election results could shape the regulatory landscape for XRP and SOL ETFs. Bitcoin [BTC] and Ethereum [ETH] exchange-traded funds (ETFs) experienced significant outflows on the 1st of October. BTC ETFs saw withdrawals totaling $242.6 million and ETH ETFs recorded outflows of $48.6 million. Can Trump boost SOL and XRP ETFs? Amidst this fluctuating ETF market, recent discussions have emerged suggesting that the outcome of the upcoming U.S. presidential election could influence the regulatory landscape for crypto ETFs, particularly those involving assets like Ripple [XRP] and Solana [SOL]. Speculation abounds that a potential victory of Donald Trump might impact these digital asset ETFs’ future approvals and performance. In a recent thread on X (formerly Twitter), Bloomberg analyst Eric Balchunas highlighted the challenges faced by new cryptocurrency ETFs, such as those for SOL and XRP, under the strict regulatory oversight of SEC Chairman Gary Gensler. Balchunas emphasized that Gensler’s firm stance on the crypto market has complicated the approval process for these ETFs, impacting major industry players like Binance and Coinbase. Reiterating Trump’s pledge to fire Gensler upon taking office, Balchunas in a post on the 2nd of October said, “You’ve heard of the Fed Put. This is like the Trump Call.. filings for XRP or Solana or any other alt coins are basically like a cheap call option on a Trump win as Genz will be gone and anything’s poss. Harris wins no way these get approved, and the “call” expires worthless.” Bitwise’s move to launch XRP ETF This comment comes on the heels of Bitwise’s recent move to establish an XRP ETF, which was marked by the registration of a trust entity in Delaware. The timing is significant, as it aligns with the SEC’s impending…
The post Trump’s presidency: A game changer for XRP, Solana ETFs? appeared on BitcoinEthereumNews.com.
Bitcoin and Ethereum ETFs experienced significant outflows on the 1st of October, totaling millions. U.S. election results could shape the regulatory landscape for XRP and SOL ETFs. Bitcoin [BTC] and Ethereum [ETH] exchange-traded funds (ETFs) experienced significant outflows on the 1st of October. BTC ETFs saw withdrawals totaling $242.6 million and ETH ETFs recorded outflows of $48.6 million. Can Trump boost SOL and XRP ETFs? Amidst this fluctuating ETF market, recent discussions have emerged suggesting that the outcome of the upcoming U.S. presidential election could influence the regulatory landscape for crypto ETFs, particularly those involving assets like Ripple [XRP] and Solana [SOL]. Speculation abounds that a potential victory of Donald Trump might impact these digital asset ETFs’ future approvals and performance. In a recent thread on X (formerly Twitter), Bloomberg analyst Eric Balchunas highlighted the challenges faced by new cryptocurrency ETFs, such as those for SOL and XRP, under the strict regulatory oversight of SEC Chairman Gary Gensler. Balchunas emphasized that Gensler’s firm stance on the crypto market has complicated the approval process for these ETFs, impacting major industry players like Binance and Coinbase. Reiterating Trump’s pledge to fire Gensler upon taking office, Balchunas in a post on the 2nd of October said, “You’ve heard of the Fed Put. This is like the Trump Call.. filings for XRP or Solana or any other alt coins are basically like a cheap call option on a Trump win as Genz will be gone and anything’s poss. Harris wins no way these get approved, and the “call” expires worthless.” Bitwise’s move to launch XRP ETF This comment comes on the heels of Bitwise’s recent move to establish an XRP ETF, which was marked by the registration of a trust entity in Delaware. The timing is significant, as it aligns with the SEC’s impending…
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