Breaking Solana News – Trump and Solana ETFs: US Elections’ Influence on Market Trends
Breaking Solana News – In terms of U.S. ETFs, Solana doesn’t seem to be getting any anytime soon under the Biden administration. However, regaining the White House could be closer than many people believe and have significantly more upside in terms of price than bitcoin had when its spot ETF debuted, according to market-making firm GSR.
According to the research note, the U.S. presidential election may offer a breakthrough for other cryptocurrency ETFs, like SOL. The current strategy for introducing cryptocurrency ETFs could be disrupted if Trump is elected again. This process typically takes years and begins with the adoption of federally regulated futures contracts, which are something that Solana does not have.
GSR Says There’s Hope for Approval of SOL ETFs
Based on internal studies at GSR, Solana is among the few cryptocurrency assets with a robust market demand and a highly decentralized network. According to the business, potential ETF issuers’ inclination to pursue a listing is expected to be guided by such features.
According to GSR, the months before and after the spot ETF introduction saw a more than twofold increase in the price of bitcoin. SOL’s price might more than triple if it receives just 5% of the inflows that BTC experienced. GSR regarded that inflow rate as a “base case” since, prior to the rise of the cryptocurrency ETF frenzy, Solana investment products received 5% of bitcoin inflows between 2021 and the end of 2023.
All you really need is for Donald Trump to become president and then you’re subject to whatever he wants to do,
GSR Senior Strategist Brian Rudick
FAQ
What Causes Solana Price Volatility?
An investing company, 3iQ, declared on June 21 that it had submitted a successful application to introduce Solana ETFs in Canada. Bulls in Solana have been remarkably resilient over the month-long decline since the confirmation, averting a collapse below the crucial $122 price barrier.
What is the Solana ETF Price?
Without a Solana ETF, there is no ETF price activity for Solana. What Does Contagion Risk Mean?
How Will Trump’s Re-Presidency Affect Solana?
Should Trump emerge victorious in the election and fulfill his crypto-related campaign pledges, he may implement the measures required for SOL to potentially become an ETF in the near future.
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