Following Trump’s re-election, XRP and Solana prices have surged amid hopes of relaxed regulations and several new ETF filings anticipated in November.
Highlights:
- Crypto Rally on Trump Win: New Altcoin ETFs on the Horizon?
- Potential exit of SEC’s Gensler, with a pro-crypto successor, could boost XRP ETF approvals.
- Trump’s pro-crypto stance may attract conservative investors to Solana ETFs, driving long-term growth.
Since Trump’s re-election, Bitcoin and altcoins like XRP and ADA have climbed on expectations of lighter cryptocurrency regulations. Several ETF applications, including those for XRP and Solana, are expected in November.
Many investors hope Trump’s favorable crypto stance will lead to looser policies and encourage more spot altcoin ETFs beyond Bitcoin and Ethereum. Many issuers had held back on applications until after the election, anticipating that a Trump administration could improve their chances.
There’s growing speculation around the potential exit of SEC Chair Gary Gensler, with a crypto-supportive successor anticipated, setting the stage for major ETF filings.
Crypto Surge on Trump Re-Election, Spot XRP and Solana ETF Anticipation Builds Bitcoin and other altcoins have rallied post-election, driven by expectations of friendlier regulations. Nate Geraci, CEO of ETF Institute, anticipates a wave of new spot cryptocurrency ETF applications this week, including potential spot ETFs for XRP, Solana, and Cardano, sparked by Trump’s victory.
Geraci noted that many issuers were awaiting the election results and are now ready to proceed, believing that Trump’s administration will smooth the path for ETF approvals. Solana and XRP ETF applications already under SEC review may benefit from Trump’s election, increasing the likelihood of approval.
With rumors circulating about Gensler’s possible exit, names like Robinhood’s Dan Gallagher are considered front-runners for the role, potentially ushering in a more crypto-friendly era.
XRP ETF Filings Surge Following Trump’s Win After Trump’s win, a series of altcoin ETF applications, including Solana, have emerged. Asset manager 21Shares recently filed a spot XRP ETF, adding to prior applications from Canary Capital and Bitwise. Filed on November 1, 21Shares’ application includes a Form S-1 for the 21Shares Core XRP Trust to list on the Cboe BZX Exchange, offering indirect exposure to XRP.
Following this news, Ripple CEO Brad Garlinghouse suggested the SEC has “lost its battle on cryptos.” XRP saw a 15.7% weekly gain, consistently trading above $0.50, with a market cap of $33.6 billion. Influencers like Amonyx anticipate XRP reaching $1 in the near term, though some are more ambitious.
Trump’s Win Fuels Optimism for Solana’s Growth Throughout his campaign, Trump expressed plans to make the U.S. a global crypto leader, including a commitment to replace SEC Chair Gensler, whom he criticized for strict crypto policies.
Trump’s pro-crypto approach may encourage conservative investors to consider Solana-based ETFs. With supportive legislation and the potential for effective policies, Trump’s administration could drive long-term investments in Solana.
With Solana’s recent climb above $220 and a strong weekly gain of 34%, some experts believe it could hit $300 by year-end, further positioning Solana for sustained growth in the crypto market.
