PANews reported on October 22, citing CoinDesk, that two ETF experts stated that if Democratic presidential candidate Kamala Harris is elected, the approval of cryptocurrency ETFs in the U.S. may not extend to currencies beyond Bitcoin (BTC) and Ethereum (ETH). Currently, ETF applications for Ripple's XRP and Solana (SOL) are underway, but the chances of these applications being approved if Harris wins are slim.

Analyst Eric Balchunas pointed out that regardless of who the issuer is, Harris's election could mean bleak prospects for the approval of such ETFs. Conversely, if former President Trump wins the election, the situation might be different, as his supportive stance towards the crypto industry could increase the chances of other crypto ETFs being approved. ETF Store President Nate Geraci agrees with this viewpoint.

Currently, Trump's winning probability in the election prediction market Polymarket has risen to 62.4%, indicating his popularity in the crypto community. In contrast, while Harris has mentioned the need to establish a regulatory framework for cryptocurrencies, the specific details of her support remain unclear.