CandleFocus Crypto ETFs Look Unlikely to Expand Beyond Bitcoin, Ether Under Kamala Harris, Experts Say
2024-10-21
Author: Content Editor
Two ETF experts suggest that if Kamala Harris wins the US presidential election, it is unlikely that cryptocurrencies beyond bitcoin (BTC) and Ethereum's ether (ETH) will be approved for exchange-traded funds (ETFs). Currently, there are applications for ETFs tracking Ripple's XRP and Solana (SOL), and if Donald Trump were to win the election, the chances of their approval could improve significantly. The approval of bitcoin and ether ETFs earlier this year was seen as a significant victory for the industry, and since then, issuers have been seeking approval for the next big crypto ETF launch. However, experts believe that under a Harris presidency, the approval of additional spot crypto ETFs is unlikely to happen. On the other hand, if Trump were to win, there would be a decent chance for more crypto ETFs regardless of whether BlackRock joins other firms in expanding crypto ETFs. Trump has gained support from the crypto community with his favorable stance towards the industry, while Harris has been less vocal about it.
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