📣 Wall Street Gears Up for a Trump-Era Crypto Renaissance
posted 25 Nov 2024
Trump’s return to the presidency sets the stage for a tidal wave of crypto ETFs as Wall Street eyes the $3.2 trillion market for new investment opportunities.
Insiders in the financial sector have revealed to Bloomberg that Bitcoin-oriented ETFs have attracted billions of dollars in investment following the elections. Key players, including company leaders and lawyers behind some of the most successful ETFs, are already devising plans for more.
These offerings could span from classic ETF structures aimed at professional crypto enthusiasts to speculative, high-stakes products catering to “*degens,” a self-identified group of daring traders unafraid to lose big in the pursuit of higher rewards.
Crypto ETFs: Wall Street sets sights beyond Bitcoin!
With SEC Chair Gary Gensler set to step down, experts anticipate a friendlier regulatory environment for cryptocurrency investments under his successor.
*The word “degen” describes bold traders who dive into the most speculative and exotic cryptocurrency markets. Discover this and other crypto terms in our glossary.
The identity of Trump’s pick to succeed Gensler is still unknown, but the shift in leadership aligns with the president-elect’s ongoing efforts to prioritize crypto innovation in his administration.
With applications to launch ETFs for Solana, XRP, and Litecoin now submitted to the SEC, the odds of approval are higher than ever. These funds could mark a major turning point for crypto investments.
Altcoins like Aave, Uniswap, and Maker are poised to follow. While direct investments in altcoins might feel too risky for classic investors, ETF products could bridge the gap, offering a less volatile entry point into the crypto space.
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