Cryptocurrency

Solana

Gary

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/will-trumps-election-affect-cryptocurrency-etfs" data-wpel-link="internal" rel="noopener noreferrer nofollow">Will Trump’s Election Affect Cryptocurrency ETFs?</a><br></p>
<p style="text-align: justify">Bloomberg analyst Eric Balchunas has pointed out that Donald Trump’s potential win in the upcoming U.S. presidential election could significantly impact the trajectory of <a href="https://en.bitcoinhaber.net/whales-impact-xrp-supply-market" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP</a> and <a href="https://en.bitcoinhaber.net/solanas-market-surge-driven-by-airdrops-and-meme-coin-interest" data-wpel-link="internal" rel="noopener noreferrer nofollow">Solana</a> ETFs. He noted that political factors play a crucial role in shaping the regulatory landscape for digital currencies.</p>
<h2 id="how-does-trump-s-potential-win-affect-sec-decisions">How Does Trump’s Potential Win Affect SEC Decisions?</h2>
<p style="text-align: justify">Balchunas highlighted that SEC Chairman Gary Gensler’s stringent regulations on the cryptocurrency market hinder the process of approving new ETFs. This regulatory stance has repercussions not just for new applications, but also for established crypto exchanges like <a href="https://en.bitcoinhaber.net/binance-triumphs-over-regulatory-challenges-and-bolsters-market-position-in-2023" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a> and Coinbase.</p>
<h2 id="what-steps-is-bitwise-taking-for-its-xrp-etf">What Steps is Bitwise Taking for Its XRP ETF?</h2>
<p style="text-align: justify">In a notable move, Bitwise has set up a trust for its XRP ETF in Delaware, following other significant firms like BlackRock and Fidelity that have shown interest in Bitcoin and Ethereum ETFs. However, the SEC’s approval of these initiatives remains uncertain due to the current regulatory environment.</p>
<p style="text-align: justify">Challenges continue to mount for the Solana ETF under the present SEC leadership, with Nate Geraci expressing skepticism regarding its approval. Interestingly, two spot Solana ETFs have been successfully approved in Brazil, suggesting a more favorable regulatory climate there. Geraci remarked that a Trump victory could result in a shift towards more accommodating cryptocurrency regulations.</p>
<p style="text-align: justify">Key takeaways from Balchunas’ insights include:</p>
<ul>
 <li>Trump’s election could alter SEC leadership and its regulatory stance.</li>
 <li>Current regulations under Gensler hamper ETF approvals for XRP and Solana.</li>
 <li>Bitwise is proactively establishing trust for XRP ETFs.</li>
 <li>Comparative international regulatory environments, like those in Brazil, show potential paths forward.</li>
</ul>
<p style="text-align: justify">The outcome of the upcoming U.S. presidential election is poised to play a pivotal role in shaping the future of XRP and Solana ETFs, emphasizing the intricate link between political dynamics and cryptocurrency regulation.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/will-trumps-election-affect-cryptocurrency-etfs" data-wpel-link="internal" rel="noopener noreferrer nofollow">Will Trump’s Election Affect Cryptocurrency ETFs?</a></h5>

Will Trump’s Election Affect Cryptocurrency ETFs?

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