[Bloomberg analysts say XRP ETF filing is like a “cheap call option” for Trump to win]
The U.S. Securities and Exchange Commission (SEC) is facing a deadline to appeal a 2023 ruling that XRP does not qualify as a security when traded in secondary markets, a major legal victory for Ripple. Eric Balchunas, a senior ETF analyst at Bloomberg, compared this situation with the economic concept of "Federal Reserve Protection" and believed that the XRP-related ETF application may be a bet on Donald Trump's victory in the election, which will create support for crypto. A more favorable regulatory environment for the currency will increase the chances of the XRP ETF being approved.
He pointed out that if Kamala Harris becomes president, it may continue the strict supervision of current SEC Chairman Gary Gensler and hinder the approval of the XRP ETF. Cardano founder Charles Hoskinson also believes that Trump’s policies will be more beneficial to the US encryption industry.
At the TOKEN2049 conference, Hoskinson emphasized that any candidate who supports decentralized finance (DeFi) and crypto initiatives will be friendlier to the industry, and that SEC policy may change significantly if Trump returns to the presidency.
