Trump's Victory Could Impact the Fate of XRP and Solana ETFs

With Bitwise’s recent focus on XRP fueling ETF speculation, Bloomberg ETF analyst Eric Balchunas suggests that Donald Trump's potential win in the next U.S. presidential election could shift the landscape for XRP and Solana ETFs.

According to Balchunas, the current regulatory climate, led by SEC Chairman Gary Gensler, makes it tough for new cryptocurrency ETFs, like Solana (SOL) and XRP, to gain approval. He emphasized that for these types of crypto ETFs to advance, Trump would need to win, which could lead to Gensler stepping down and a more crypto-friendly approach being adopted.

Balchunas argues that Trump's return to office could open the door for altcoin ETFs, making it more likely that assets like XRP and Solana receive the regulatory green light. He believes the political shift would lead to more relaxed rules, significantly boosting the odds of approval.

Nate Geraci, president of The ETF Store, echoed these sentiments, noting that under the current administration, the chances for a Solana ETF in the next year or two remain low. However, while the U.S. has delayed approval, Brazil has already authorized two spot Solana ETFs.