Trump Possibly Knew About Ether ETF Approvals, Bitwise Executive Claims

As a researcher, I find the potential involvement of former President Trump in the approval process of Ethereum ETFs at the SEC an intriguing development. Given my background in finance and cryptocurrencies, I’ve followed the regulatory landscape closely, and the sudden greenlighting of these financial products has raised eyebrows in the industry.

As a crypto investor, I recently learned some intriguing news from the Consensus crypto conference. Katherine Dowling, a high-ranking executive at Bitwise Asset Management, shared that there might have been early approvals of spot Ethereum ETFs (Exchange Traded Funds) by the Securities and Exchange Commission (SEC), which former President Donald Trump could have been privy to. This potential insider knowledge could have significant implications for the crypto market if it turns out to be true.

This discovery brings an engaging new dimension to the regulatory tale, where the approval of these financial offerings took an unexpected turn.

Political Dynamics and Crypto’s Election Influence

Dowling, acting as both general counsel and chief compliance officer for Bitwise, was taken aback by the SEC’s unexpected move, an feeling shared by industry giants such as BlackRock and Fidelity.

“From my perspective, it’s plausible that Trump was aware of the approval orders we were issuing since he seemed to be the only one privy to this information, as we hadn’t shared it with anyone else.”

It’s been proposed that the approvals may have been impacted by the political climate, specifically the forthcoming elections and President Joe Biden’s intention to adopt a more lenient approach towards cryptocurrencies, potentially winning over younger, technologically inclined electorate.

The acceptance of the 19b-4 applications is a significant milestone for Ethereum ETFS, signifying progress in the approval process. However, trading will not initiate until the respective issuers finish submitting their S-1 documents to the SEC, which may take anywhere from several weeks to numerous months to complete.

Additionally, there are growing suspicions that Trump’s latest stance on cryptocurrencies could be politically motivated. This development hints at the rising influence of crypto in US politics and potentially makes it a significant topic for debate in upcoming American presidential elections.

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2024-05-31 00:21