The approval of Solana and XRP ETF’s is contingent on the outcome of the elections. Stay tuned for more updates on this developing story in the world of cryptocurrencies.
Nate Geraci, President of The ETF Store, has shared his insights on how the 2024 US presidential elections could impact the approval of ETFs for Solana (SOL), XRP, and Litecoin (LTC). Here are the key points from his analysis:
– Impact exaggeration: Geraci emphasizes that the impact of elections on investments is often exaggerated, but political changes can indeed shape the regulation around crypto ETFs.
– SEC leadership: The future chairman of the SEC will play a crucial role in determining the speed at which new crypto ETFs can be approved. An SEC led by a Democrat, such as Kamala Harris, is expected to take a stricter stance on crypto ETFs compared to a Republican leadership.
– Crypto ETFs: The approval of Bitcoin and Ether spot ETFs has opened the door for other altcoin ETFs. A Trump administration might adopt a more pro-crypto stance, potentially easing the approval of Solana, XRP, and Litecoin ETFs.
– Share class structure: There is talk of allowing ETF share classes for existing investment funds, which has significant support from major players like BlackRock and Fidelity. A Republican SEC may be more willing to agree to this.
– ETF taxation: With the rising US debt, taxation on ETFs could once again become a topic of discussion. This could impact the profitability of ETFs.
The election outcome could have a substantial impact on the approval and development of new crypto ETFs. A Trump victory could lead to a more crypto-friendly environment, while a Harris administration might maintain a more conservative approach. However, Geraci emphasizes that the exact influence of the elections on the ETF market is difficult to predict, but the industry should remain vigilant of political developments that could shape policy.
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