Crypto Spot ETFs Could Flood Market if Trump Wins Presidency, Predicts US Attorney

IconCryptoNewsTerminal Staff12 Jul, 2024

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Crypto Spot ETFs Could Flood Market if Trump Wins Presidency, Predicts US Attorney

Joe Carlasare, a prominent US crypto attorney, recently predicted that if former President Donald Trump were to win the upcoming presidential election, the Trump administration would likely approve a "cascade" of crypto spot exchange-traded funds (ETFs). Carlasare made this statement during an interview with cryptocurrency news outlet CoinDesk. He believes that if Trump is re-elected, asset managers such as BlackRock and Bitwise would be eager to create market cap weighted ETF products. This would make it easier for people to buy crypto index ETFs in the same way they buy stock index ETFs. However, not everyone shares Carlasare's optimism. Checkmate, a senior analyst at on-chain analytics firm Glassnode, said that while asset managers may try to create these ETFs, it's unclear how much demand there would be. He pointed out that there seems to be low institutional interest in an ether (ETH) spot ETF. Only time will tell if Carlasare's prediction comes true. If Trump does win the presidency and approves the creation of crypto spot ETFs, it could have a significant impact on the cryptocurrency market.

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