Top analysts and crypto experts are intently looking forward to the 2024 US presidential elections, as the fate of Spot Solana ETFs rests on the outcome of the polls. Meanwhile, ETFSwap (ETFS) is refining its platform to accommodate them and other crypto ETFs when they launch.
Solana ETFs Face Steep Regulatory Hurdles
Regulation has been the bane of cryptocurrencies’ existence in the US for as long as they have existed. Despite the shifting mainstream perception of digital assets, Solana ETFs face considerable challenges on the road to SEC approval. Even top analysts at VanEck, the investment firm behind the first Solana ETFs filing in the US, are aware of the low chances of the SEC approving a Spot Solana ETF.
In a recent interview, VanEck’s Head of Research commented on the SEC chairman’s persisting skepticism of cryptocurrencies and his restrictive policies on them. Although the regulatory body has since approved spot Bitcoin ETFs and is on the cusp of approving Ethereum ETFs, the prevailing view within the SEC is that Solana (SOL) is a security, not a commodity.
ETFSwap (ETFS) Prepares To List Spot Solana ETFs After US Presidential Elections
ETFSwap (ETFS) is a decentralized marketplace for traders and investors to trade crypto ETFs and other tokenized assets. The platform has taken extensive steps to strengthen its security and tools for profitably trading Solana ETFs when they launch.
ETFSwap (ETFS) is built on the highly secure and scalable Ethereum blockchain. This allows traders and investors to enjoy true transparency, security, and efficiency. The platform has been thoroughly audited by Cyberscope and no significant security threats were found. ETFSwap (ETFS) has also completed KYC verification by SolidProof, a smart contract security auditing firm.
ETFSwap (ETFS) has innovative tools and features that enhance traders’ performances and help them stay profitable. For instance, industry-leading market-making algorithms ensure that buy and sell orders are taken at the best possible prices, with minimal slippage and tight spreads.
ETFSwap’s attractive leverage options allow traders to strengthen their positions in the market and gain massive profits from their small initial investment. All trades can access up to 10x leverage, while 50x leverage is available to users for futures and options trading.
How The US Presidential Elections Can Turn The Tides In Favor Of Solana ETFs
The 2024 US presidential elections might be the most pivotal for the future of cryptocurrencies in the country. A change in administration could bring about changes in SEC leadership, resulting in a more relaxed approach. Many crypto analysts and experts now believe the US presidential elections will turn the tide in favor of Solana ETFs.
In an X (formerly Twitter) post, Bloomberg ETF analyst Eric Balchunas called the US presidential elections the “most important” factor for Solana ETF approval. If Biden wins, Balchunas says, the Solana ETFs proposals are DOA. Conversely, he expressed increased possibilities for Solana ETF approval if Trump emerges victorious.
These differing verdicts stem from the Biden administration’s history with cryptocurrency. Under Biden, cryptocurrency regulations were stiff and borderline hostile at times. In contrast, Trump has taken a supportive stance for cryptocurrency, even setting his sights on becoming the “crypto president.”
A 2023 Greyscale survey revealed that US voters want a president with an informed perspective on innovative technologies such as cryptocurrency. This and the growing number of US cryptocurrency holders are clear signs that a pro-crypto stance will serve any candidate well in the polls.
Conclusion
The 2024 US presidential elections may bring about Solana ETFs. Before then, smart traders trade their crypto ETFs on ETFSwap (ETFS). The platform’s native token is on presale and has sold over 45 million units. Smart investors are now buying the token at its discounted price of $0.01831 and using the 40% bonus promo to accumulate more tokens for greater potential gains.
For more information about the ETFS Presale:
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