The flurry of crypto ETF filings in the United States is being seen as “a possible Trump pick” in the upcoming presidential election, Eric Balchunas, an ETF analyst at Bloomberg Intelligence, said on Oct. 25.

“If Trump wins […] he will appoint a more liberal SEC chairman,” Balchunas said at the Plan B Forum conference in Lugano, Switzerland.

“So if you see Trump winning, keep a close eye on this area, and if Kamala Harris wins, maybe hold off on expectations for a few years,” Balchunas added.

Bitcoin and Ether ETFs were listed in the United States in January and July respectively, after years of SEC opposition.

Currently, ETF issuers are working on registrations for other tokens such as Solana (SOL) and Ripple (XRP).

In July, the Cboe exchange proposed to regulators to allow the listing of VanEck and 21Shares' SOL ETFs.

By October, ETF issuers Canary Capital and Bitwise had filed proposals for XRP ETFs. Canary also filed for a Litecoin spot ETF on October 15.

The November election will pit Republican candidate Donald Trump – who has pledged to make the United States “the crypto capital of the world” – against Democratic candidate Kamala Harris, who has been less explicit on the field.

According to Galaxy Research, Vice President Harris has a more crypto-friendly stance than President Joe Biden, but has not reached the level of strong support as Trump.

Under Biden, the SEC has taken a tough stance on cryptocurrency regulation with more than 100 regulatory actions against companies in the industry.

In a campaign pledge in July, Trump vowed to “fire” Gary Gensler, the current chairman of the SEC, if he was elected.

Top ETFs launching in 2024 | Source: The ETF Store

Crypto funds accounted for 13 of the 25 largest ETFs by investment volume in 2024 as of August, according to a post on the X platform, according to Nate Geraci, president of The ETF Store.

Bitcoin led the ETF market this year, accounting for six of the ten most successful launches in 2024, Geraci said in the post.



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