XRP ETF Approvals at Risk if Harris Wins: Insights from ETF Experts

On October 22, COINOTAG reported insights from two prominent ETF analysts regarding the potential impact of the upcoming U.S. presidential election on cryptocurrency ETF approvals. According to Eric Balchunas, a senior ETF analyst at Bloomberg, a victory by Democratic candidate Kamala Harris could stifle the approval of XRP and SOL ETF applications. Balchunas emphasized, “If Harris wins, no matter who the issuer is, this will not be approved.” This sentiment is echoed by industry insiders, suggesting that the entry of major players like BlackRock into the Bitcoin and Ethereum ETF space has heightened the prospects for SEC endorsements, though the extent of BlackRock’s influence remains debatable. In contrast, Balchunas expressed that a potential win for former President Trump might significantly boost the approval chances for cryptocurrency ETFs, irrespective of BlackRock’s involvement with competitors such as Bitwise and VanEck. Nate Geraci, president of The ETF Store, reinforced this perspective, asserting that immediate approvals for new spot crypto ETFs seem unlikely under a Harris-led administration.