Trump’s Return To Power Could Boost XRP And Solana ETFs, Analyst Says
02 Ottobre 2024 - 6:00PM
NEWSBTC
The potential return of Donald Trump to the presidency could
substantially impact the approval of cryptocurrency exchange-traded
funds (ETFs), particularly for XRP and Solana. The regulatory
environment for these digital assets, which have been criticized
for quite some time now, may be more favorable as a result of the
Trump administration, according to Bloomberg analyst Eric
Balchunas. Related Reading: Humor Or Sarcasm? Dogecoin Leaps 20%,
Co-Creator Says He Doesn’t Know Why Trump: Impact On Crypto Trump’s
policies have generated considerable speculation regarding their
potential impact on the cryptocurrency market. It is possible that
the manner in which regulators perceive cryptocurrencies may change
if he wins the 2024 election. This is particularly critical for XRP
and Solana, as they are both competing for ETF approvals that could
potentially create new investment opportunities. Analysts believe a
Trump victory could encourage the SEC to be more tolerant on these
petitions. You’ve heard of the Fed Put. This is like the Trump
Call.. filings for XRP or Solana or any other alt coins are
basically like a cheap call option on a Trump win as Genz will be
gone and anything’s poss. Harris wins no way these get approved,
and the “call” expires worthless. https://t.co/mkpCbqEuQ4 — Eric
Balchunas (@EricBalchunas) October 1, 2024 Regulatory Changes On
The Horizon The legal structure that oversees cryptocurrency has
drawn a lot of attention. The creation of clear rules that will
help investors navigate this complex market is something that many
are anxiously awaiting. The administration of Trump could reverse a
regulatory direction towards deregulation upon regaining power, and
this might be favorable for crypto markets. This too falls in line
with what is going on in the legal battles Ripple, behind XRP, has
faced, and its efforts to clear the controversial status it
currently holds in light of SEC regulations. Analysts further
indicate that a potential Trump presidency might mean friendlier
waters for businesses; this will probably hasten the process of an
approved crypto ETF. This will give the investors much confidence
and institutional capital into the market, too. The prospect of
ETFs linked to popular cryptocurrencies like XRP and Solana could
provide much-needed liquidity and stability, which many investors
are currently seeking. Related Reading: XRP To $1,000? Experts
Weigh In On Bold Predictions And Market Realities Investor
Sentiment And Market Reactions As news of Trump’s potential impact
on crypto regulations spreads, market reactions have been mixed. A
number of investors are optimistic about the potential
opportunities that could arise as a result of the approval of ETFs.
They believe these financial instruments would enhance the legality
of cryptocurrencies and broaden its adoption. Other traders,
however, see unknown impacts of political actions on the market.
The crypto community’s sentiment is tangible. Numerous aficionados
are optimistic; however, they are cognizant of the potential
hazards. The volatility of cryptocurrency markets and even minor
political or regulatory changes can cause huge price movements.
Investors are closely monitoring Trump’s campaign and regulatory
shifts. Featured image from James Devaney/GC Images/istock/Getty
Images, chart from TradingView
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