According to Cointelegraph: Donald Trump’s victory in the U.S. presidential election on November 5 could expedite the approval of a staked Ether (ETH) exchange-traded fund (ETF), potentially driving Ethereum’s price above its previous all-time high of $4,800. According to Nansen analyst Edward Wilson, the new administration's pro-crypto stance may foster a more favorable regulatory environment for innovative crypto products, particularly those involving Ethereum.
Staked Ether ETF Could Spark Interest in ETH
Wilson believes a staked ETH ETF could highlight Ethereum’s unique asset characteristics, drawing investor attention back to the cryptocurrency. "If this occurs, then ETH will become an exciting asset to watch," he commented, noting that Trump’s policies may significantly boost ETH’s market presence. The potential for more Ether-based ETFs could propel ETH closer to its historic high of $4,800 from November 2021.
European Markets Eye First Staked Ether ETF
While U.S. approval for an Ether staking-related ETF could be imminent, Europe may take the lead. Charles d’Haussy, CEO of the dYdX Foundation, expressed optimism that the European market could introduce an Ether staking ETF, marking a key milestone for the crypto industry. He suggested that European markets might be more agile in embracing Ether staking-related products.
Mixed Reactions to Existing Spot Ether ETFs
Despite the optimism, U.S. spot Ether ETFs have experienced disappointing inflows, with over $489 million in net outflows since launch, according to Farside Investors. Bloomberg analyst Eric Balchunas previously predicted that Ether ETFs might struggle to attract the same investor interest as spot Bitcoin ETFs. Nonetheless, a staked ETH ETF could renew enthusiasm for Ethereum, especially under a regulatory landscape more supportive of crypto innovation.