Exchange-traded funds (ETF) experts believe that under Kamala Harris, except for crypto ETFs including Bitcoin (BTC) and Ether (ETH), no other ETFs would be approved.
This year saw the successful approval of spot bitcoin and ether ETFs after issuers fought for years to introduce such funds. Not just, billions of money have been accumulated in both BTC and ETH ETFs as of yet. In fact, Bitcoin ETFs are expected to surpass gold ETF flows in just 2 years.
As a result, many issuers are looking to introduce Ripple (XRP) and Solana (SOL) ETFs respectively. However, this looks difficult, said the two experts – Erica Balchunas and Nate Geraci.
Eric Balchunas, senior ETF analyst at Bloomberg Intelligence said, “It won’t happen if Harris wins, regardless of the issuer.”
In fact, some industry experts argued that only after management giant BlackRock joined the race to list bitcoin and ether ETFs, that significantly improved the chances the SEC would approve them.
Balchunas have however opined that if former President Donald Trump wins the election, however, there’d be a “decent chance” for more crypto ETFs. It remains to be known if BlackRock would want to join Bitwise, VanEck and others that want to expand crypto ETFs beyond bitcoin and Ethereum’s ether.
Nate Geraci, president of the ETF Store, echoes this outlook. “It seems highly unlikely that a Harris administration would approve additional spot crypto ETFs, at least not anytime soon after the election,” he said.
Calling President Joe Biden’s crypto stance as combative and taking into account Harris’ powerful position in that administration, it is fair to assume that the status quo would continue under Kamala’s leadership, according to Geraci.
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Source: https://www.cryptonewsz.com/crypto-etf-beyond-btc-eth-kamala-harris/