crypto ETFs

Experts: No Crypto ETF Expansion Beyond Bitcoin, Ether in Harris Era

  • Multiple factors contribute to the stagnation of Crypto ETF Expansion under Harris.
  • Only Bitcoin and Ethereum ETFs have received approval, allowing traditional investors to gain exposure to the crypto market.
  • Experts predict that the possibility of expanding Crypto ETFs beyond Bitcoin and Ether is slim in the near future.
  • A Donald Trump win could provide a more favorable regulatory environment for the crypto market.

Current State of Crypto ETFs

As of now, only Bitcoin and Ethereum ETFs have received approval, marking a substantial win for the crypto community. These ETFs have opened the door for more traditional investors to gain exposure to the crypto market without directly purchasing digital assets. However, according to experts, the possibilities of expanding Crypto ETFs beyond Bitcoin and Ether seem slim in the near future.

Applications for Ripple (XRP) and Solana (SOL) ETFs

Several companies have applied for Crypto ETFs that would track assets like Ripple’s XRP and Solana (SOL). Despite the growing interest, these applications are unlikely to move forward under a Harris-led government. The political climate and regulatory stance play pivotal roles in the future approval of such funds.

ETF Store president Nate Geraci has mentioned that “it seems highly unlikely that a Harris administration would approve additional spot crypto ETFs, at least not anytime soon after the election.” This outlook leaves companies vying for approval in a state of uncertainty, particularly if the current Democratic leadership continues.

Experts predict no Crypto ETF Expansion beyond Bitcoin and Ethereum if Kamala Harris wins the U.S. presidency. Discover the future of Crypto ETFs.

Impact of the U.S. Presidential Election on Crypto ETFs

The 2024 U.S. presidential election could be a game-changer for the crypto market. While a Harris victory would likely mean no further Crypto ETF Expansion beyond Bitcoin and Ethereum, a Donald Trump win could provide a more favorable regulatory environment. Trump’s recent engagement with the crypto community has sparked optimism, with many experts suggesting that new ETFs, including those tracking XRP and SOL, could receive the green light if he secures the presidency.

Why Expansion Beyond Bitcoin and Ethereum is Unlikely Under Harris

There are multiple factors contributing to the stagnation of Crypto ETF Expansion under Harris. First, the Biden administration has taken a “combative” stance toward cryptocurrency, focusing on establishing strict regulations. Harris, being part of this administration, is expected to maintain a similar approach. Additionally, she has not shown substantial support for the broader crypto space, unlike Trump, who has made it a part of his campaign agenda.

Balchunas also points out that if Harris wins, “those applications will probably go nowhere.” This outlook paints a grim picture for crypto enthusiasts hoping for a more diverse range of ETFs beyond Bitcoin and Ether.

Conclusion

In summary, the expansion of Crypto ETFs beyond Bitcoin and Ethereum faces significant roadblocks under a Kamala Harris presidency. While companies continue to apply for ETFs tracking assets like Ripple’s XRP and Solana’s SOL, the likelihood of approval remains slim unless political leadership changes. With Trump showing more support for the crypto sector, the future of Crypto ETF Expansion may rest heavily on the outcome of the upcoming election.

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