Spot Bitcoin, Bloomberg senior ETF analyst Eric Balchunas 
$68,187 He noted that ETFs have eclipsed gold this year. Balchunas announced that these funds have attracted $21 billion in investments since January alone. He stated that the market performance of gold could be better if SEC Chairman Gary Gensler approves these ETFs.
Rapid Growth of Bitcoin ETFs in the Market
Bitcoin ETFs have grown rapidly and gained a remarkable place in the market. These new funds, which compete with gold, have become among the fastest-growing funds in the United States and other countries. In Australia, crypto ETFs rose to second place among the best-performing funds in 2023.
Other Cryptocurrency ETFs Are on the Way
Cryptocurrencies other than Bitcoin also aim to attract investor interest with ETF applications. VanEck filed for an ETF for Solana (SOL) a few months ago. Bitwise applied for an XRP ETF at the beginning of October. Ripple 
$0.517078 CEO Brad Garlinghouse stressed that these filings were ‘inevitable’ despite ongoing litigation with the SEC. However, some legal experts think the chances of approval under Gensler are slim.
Trump’s Potential Impact on the SEC
Former President Donald Trump’s promise to oust Gensler caused a stir in the crypto community. Balchunas noted that if Trump is re-elected, a libertarian SEC chairman could be appointed, which could be more positive for the crypto markets. “If Trump comes to the White House again, he will definitely appoint a more liberal SEC chairman,” said Balchunas, adding that Trump’s victory could usher in a new era in the crypto industry.
Balchunas said that crypto ETF applications are considered as “bets” on Trump’s victory. He emphasized that these filings reflect an expectation that Trump could create possible changes at the SEC. Since cryptocurrency markets are directly affected by regulatory changes, these possibilities are watched carefully by investors.
Crypto ETFs Increase Gold Share
Spot Bitcoin ETFs have directly impacted gold’s market share. ETF applications of other cryptocurrencies provide important indicators for future activity in the market. The possible effects of the Trump administration on the SEC are being closely followed by crypto investors as changes to the regulatory framework are expected.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
