According to ChainCatcher, analysts at Bernstein said that despite the recent bearish sentiment, the structural adoption cycle remains intact and cryptocurrencies will become the main force of the 'Trump trade' if the election sentiment turns to the Republicans. Analysts expect that the whitelisting of Bitcoin ETFs by large private banking platforms will change the Bitcoin portfolio allocation landscape beyond just the underlying trade. These approvals are expected to pass in Q3/Q4 and the market will stagnate. Since Bitcoin ETFs only account for 0.1-0.20% of the existing wealth advisor sample, there is room for penetration of new advisors and growing allocations. Chhugani and Sapra said that ETH ETFs may initially perform weakly, but if the election sentiment turns more Republican, cryptocurrencies will eventually become the main 'Trump trade', and the hope of a favorable regulatory regime will change the 'use case' narrative around blockchains such as ETH.