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Headline : Crypto ETFs Look Unlikely to Expand Beyond Bitcoin, Ether Under Kamala Harris, Experts Say

Read more from the original article on here at www.coindesk.com.





Tags : #crypto #etfs #look #unlikely #expand #beyond #bitcoin #ether #under #kamala #harris #experts #say


No. of Paragraph 22

Several firms recently began seeking approval to create U.S. exchange-traded funds that track cryptocurrencies beyond the already-approved bitcoin (BTC) and ether (ETH) products. Those applications will probably go nowhere if Democratic Presidential nominee Kamala Harris wins the election in November, according to two ETF experts.

The approval of spot bitcoin and ether ETFs earlier this year was seen as a huge win for the industry after issuers fought for years to introduce such funds. One issuer, Grayscale, even sued the U.S. Securities and Exchange Commission to overcome the regulator's rejection – and won. Billions of dollars have poured into the new ETFs.

Since then, issuers have been taking stabs at the next big crypto ETF launch, with applications currently in process for a fund tracking Ripple's XRP (XRP) token and the native cryptocurrency of the Solana blockchain, SOL (SOL).

"It won't happen if Harris wins, regardless of the issuer," said Eric Balchunas, senior ETF analyst at Bloomberg Intelligence.

Read more from the original article on here at www.coindesk.com.


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