2024

Solana

<ul class="wp-block-list">
 <li><strong>Analyst Eric Balchunas suggests Trump’s win could ease SEC rules, favoring XRP and Solana ETFs.</strong></li>  
 <li><strong>Bitwise has progressed on an XRP ETF, but the SEC’s appeal could stall approval.</strong></li>  
 <li><strong>The 2024 U.S. election result is seen as key for cryptocurrency ETF regulations.</strong></li> 
</ul>  
<p>Bloomberg analyst Eric Balchunas has pointed out that&nbsp; Donald Trump's victory in the upcoming U.S. presidential election could impact the future of XRP and Solana ETFs.&nbsp;</p>  
<p>This comment follows Bitwise’s recent efforts toward creating an XRP ETF by registering a trust entity in Delaware. Concurrently, it is ahead of the U.S. Securities and Exchange Commission’s (SEC) deadline to appeal Judge Torres’ ruling that secondary sales of XRP on exchanges are not securities.</p>  
<h2 class="wp-block-heading" id="h-trump-s-win-could-signal-regulatory-shift">Trump’s Win Could Signal Regulatory Shift</h2>  
<p>Balchunas highlighted via his X Space account that <a href="https://cryptonewsland.com/donald-trump-unveils-world-liberty-financial-defi-platform-for-accredited-investors/" target="_blank" rel="noopener noreferrer nofollow">under Trump's presidency,</a> Gensler would likely be replaced by a new SEC chairman, leading to a more favorable regulatory environment for cryptocurrency ETFs. In a recent discussion on X, he referred to this potential outcome as a "Trump Call," suggesting that filings for XRP and Solana ETFs may benefit from this political shift.&nbsp;</p>  
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<p>The possibility of fair policies could significantly increase the chances of these ETFs receiving approval. Conversely, if Kamala Harris were to win the election, Gensler’s leadership would likely remain unchanged, keeping the odds of approval slim.</p>  
<h2 class="wp-block-heading" id="h-bitwise-takes-steps-toward-xrp-etf-amid-sec-uncertainty">Bitwise Takes Steps Toward XRP ETF Amid SEC Uncertainty</h2>  
<p>Bitwise has made progress toward creating an XRP ETF by reporting a trusted entity in Delaware. However, the destiny of this ETF remains undecided as the SEC still has the choice to appeal a July 2024 ruling by Judge Torres, which declared that secondary sales of XRP on exchanges are not securities.&nbsp;</p>  
<p>The SEC has until October 7, 2024, to make this decision. Experts, including former SEC officials, believe an appeal could delay the approval process, regardless of any potential political changes.</p>  
<h2 class="wp-block-heading" id="h-solana-etf-faces-similar-regulatory-hurdles">Solana ETF Faces Similar Regulatory Hurdles</h2>  
<p>The Solana ETF faces challenges similar to those of XRP. Although demand for cryptocurrency-based ETFs remains strong, the <a href="https://cryptonewsland.com/sec-appeal-on-ripple-case-fuels-xrp-surge-see-why-dtx-exchange-dtx-could-soar-1500-next/" target="_blank" rel="noopener noreferrer nofollow">SEC has been reluctant </a>to approve additional offerings beyond Bitcoin and Ethereum ETFs. Despite these obstacles, other countries like Brazil have already approved two spot Solana ETFs, highlighting differences in regulatory approaches.</p>  
<p>Nate Geraci, president of The ETF Store, also stressed the importance of the 2024 U.S. election in shaping the regulatory space for cryptocurrency ETFs. A Trump victory could bring changes to the SEC, possibly making the path easier for XRP and Solana ETFs.</p> 
<p>The post <a href="https://cryptonewsland.com/trumps-2024-victory-could-reshape-sec-rules-for-xrp-and-solana-etfs/" rel="noopener noreferrer nofollow">Trump’s 2024 Victory Could Reshape SEC Rules for XRP and Solana ETFs</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Trump’s 2024 Victory Could Reshape SEC Rules for XRP and Solana ETFs

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