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Nate Geraci, the CEO of ETFStore has predicted filing of multiple crypto ETFs this week. He shared from his X account that multiple issuers have been waiting for this moment. What does he mean by this, let’s explore.
Victory of Donald Trump
Everybody in the crypto industry has been waiting for the results of US Elections. Trump has been very vocal about supporting crypto and Bitcoin for a very long time. Experts believe that this has led to his victory in the Presidential election. Now that he has won, the crypto ecosystem is in hope that he will fulfill all his promises to help the space boom.
Pending Crypto ETFs
Even though the SEC has approved multiple spot Bitcoin and ETH ETFs, there were many others that were rejected. As now Trump is elected, issuers have high hopes that other ETF will get approved. According to Geraci, we would see filing of multiple crypto spot ETFs like XRP, SOL, ADA and many more. He believes, with Trump in power, there would be no problem getting these approved.
Prediction…There will be several spot crypto ETF filings this week.XRP, SOL, ADA, etc.Assume multiple issuers were highly prepared for election results.No downside to getting aggressive now.
— Nate Geraci (@NateGeraci) November 11, 2024
What to Expect
The crypto space is very happy with Trump becoming the 47th President of the United States. Experts believe this has also helped to increase people’s confidence in Bitcoin making it reach $81,400. Now we have to see what kind of changes he makes in the SEC and will he keep all his crypto promises or not. Time will tell.
We will keep you updated on this story, stay tuned!
