Impact of US Elections on Spot Ether ETF Approval: Will Trump’s Victory Influence ETH’s Future?

  • The approval of a spot Ether ETF is speculated to be tied to the outcome of the US elections and a potential win for Donald Trump, according to Bloomberg’s Eric Balchunas.
  • The SEC under the current chair, Gary Gensler, is expected to reject applications.
  • The final decision is expected to be made on May 23, with approval potentially delayed until the end of 2025.

Spot Ether ETF approval may hinge on US elections and potential Trump victory, as the SEC under Gensler is expected to reject applications. The final decision is due on May 23, with approval potentially delayed until 2025.

SEC Expected to Reject Spot Ether ETF

Bloomberg’s senior ETF analyst, Eric Balchunas, has speculated that the U.S. Securities and Exchange Commission (SEC) will reject spot Ether ETF applications on May 23. Furthermore, he suggests that the SEC’s approval of a spot Ethereum ETF may not come until the end of 2025. The odds of approval are largely tied to the outcome of the 2024 US elections. If Donald Trump wins, the SEC is expected to undergo a more favorable change in leadership compared to the current chair, Gary Gensler.

Impact of US Elections on ETF Approval

The 2024 US presidential election could significantly impact the chances of Ethereum ETF approval. If Donald Trump wins the election, the SEC will have a new chairperson. While current President Joe Biden has shown an anti-crypto stance, Trump has used crypto to attack Biden. Meanwhile, billionaire entrepreneur Mark Cuban has criticized SEC Chair Gary Gensler and the New York SEC, warning of potential consequences in the upcoming election if current regulatory trends persist.

Conclusion

The approval of a spot Ether ETF is speculated to be heavily influenced by the outcome of the 2024 US elections and a potential win for Donald Trump. The SEC under the current chair, Gary Gensler, is expected to reject applications. However, the final decision, due on May 23, could be delayed until the end of 2025. The crypto community awaits the decision with bated breath, as it could significantly impact the Ethereum market.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

CNBC: Stock trading app eToro opens at $69.69 in Nasdaq debut

CNBC: Stock trading app eToro opens at $69.69 in...

Bitcoin’s Bullish Momentum Strengthens as MACD Crosses Above Zero: Key Insights from Coindesk Analyst

In recent analysis by Coindesk, Omkar Godbole highlighted a...

Whale Profit Alert: 1 Million TRUMP Transferred to Binance for $2.51 Million Gain

On May 14th, data insights from on-chain analyst Yu...

SP500 OPENS UP 0.2%, NASDAQ UP 0.4%

SP500 OPENS UP 0.2%, NASDAQ UP 0.4%

KYD Labs Secures $7 Million Seed Funding Led by a16z Crypto for Innovative Solana Ticketing Platform

On May 14th, COINOTAG reported that KYD Labs has...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img