Crypto ETF experts are predicting a limited scope for new approvals under Kamala Harris’ leadership, with Bitcoin (BTC) and Ether (ETH) ETFs likely being the only ones to make the cut. After a long battle, spot Bitcoin and Ether ETFs finally received the go-ahead this year, drawing in billions in investments. Interestingly, Bitcoin ETFs are even expected to surpass gold ETFs in inflows within the next couple of years.

Key Takeaways

1. BTC & ETH ETFs Dominate: Bitcoin and Ether ETFs are booming, with expectations to surpass gold ETFs in inflows soon.
2. Other Crypto ETFs Face Hurdles: Approval for XRP and SOL ETFs is unlikely under Kamala Harris due to tight regulations.
3. Political Shifts Could Expand Approvals: A Trump win might open doors for more crypto ETFs beyond BTC and ETH.

The Challenge for XRP and SOL ETFs

Despite the success of BTC and ETH, some issuers are hoping to launch ETFs for other cryptocurrencies like Ripple (XRP) and Solana (SOL). However, experts Erica Balchunas and Nate Geraci think it’s a tough ask under a Harris administration. 

Balchunas, a senior analyst, mentioned, “If Harris takes charge, don’t expect approval for these, no matter who the issuer is.” It seems the regulatory climate might stay tight under her leadership. If you're looking to invest in XRP directly, you can buy XRP easily on Bitrue, your trusted platform for trading crypto assets.

Will BlackRock’s Influence Change Things?

Industry voices suggest that the SEC’s decision to approve BTC and ETH ETFs might have been influenced by major players joining the push. With management giants like BlackRock in the mix, the chances improved significantly. However, if they or others like them want to expand crypto ETFs beyond the current focus, it remains to be seen if they’ll join forces with others aiming for broader approvals.

Balchunas also hinted that if former President Donald Trump were to win the election, the chances for a wider range of crypto ETFs could improve. “There’d be a decent shot for more approvals if Trump’s in charge,” he added, leaving some room for speculation.

Read More: TON Meme Party Daily Combo 21 October: How to Play and Win Big.

Nate Geraci’s Take: No Immediate Change Expected

Nate Geraci, from the ETF Store, echoed this cautious outlook. He said, “A Harris administration is unlikely to approve new spot crypto ETFs right after the election.” He also pointed out that with President Joe Biden’s firm stance on crypto, it’s reasonable to expect Harris to follow a similar path, keeping the status quo.

Read more about Ethereum (ETH):

ETH to USD: Convert Ethereum to US Dollar

Ethereum (ETH), Market Cap, Price Today & Chart History

How to buy Ethereum (ETH)

Ethereum (ETH) Price Today

How to Stake Ethereum (ETH)

Trade Ethereum (ETH) Futures

FAQ

Q1: Will any other crypto besides BTC and ETH get ETF approval soon?

A1: Unlikely. Under a Harris administration, experts say approval for other assets like XRP or SOL is a long shot, due to a tight regulatory stance.

Q2: What factors could influence crypto ETF approvals in the future?

A2: Major asset managers joining the race can sway decisions, but political shifts, like a change in administration, could be the biggest game-changer.

Q3: Could a Trump victory affect the crypto ETF landscape?

A3: Yes, analysts suggest a Trump win could open doors for more crypto ETFs, as he may adopt a more favorable approach compared to Harris.

Conclusion

At this point, it looks like the future of crypto ETFs is staying focused on Bitcoin and Ether, with other assets like Ripple and Solana facing an uphill battle. Whether this changes will likely depend on the outcome of the next election and the stance of future administrations.

Bitrue Official Website:

Website: https://www.bitrue.com/

Sign Up: https://www.bitrue.com/user/register

Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.