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Donald Trump is set to become the first sitting president to own meme coins, with a crypto portfolio valued at approximately $8 million, including significant holdings in TROG tokens and a Trump-themed meme currency. His shift from critic to supporter of cryptocurrencies, particularly Bitcoin, reflects a broader trend among politicians recognizing the digital asset's potential. As Trump prepares to regulate the crypto market, analysts anticipate significant changes that could reshape the landscape for investors and businesses alike.
Leah Wald, CEO of Sol Strategies, expresses skepticism about the approval of spot Solana ETFs in the U.S. by 2025, citing regulatory challenges and the need for education on Solana's unique features. While Canada may lead in ETF innovation, major asset managers are pushing for U.S. approvals, with key deadlines approaching in January. Brazil has already approved its first Solana ETF, setting a precedent for other regions.
The upcoming Trump administration is expected to drive a new wave of crypto ETFs in 2025, with significant applications for Solana, XRP, Litecoin, and Hedera already filed. Regulatory easing under incoming SEC chairman Paul Atkins may boost crypto adoption, despite short-term market volatility. Currently, Bitcoin ETFs lead with $106.82 billion in net assets, while Ethereum ETFs hold $11.74 billion, indicating strong demand in the U.S. market.
The SEC faces multiple lawsuits challenging its enforcement actions in the crypto space, with states arguing that the agency oversteps its authority and violates the Administrative Procedure Act. As the SEC prepares for leadership changes under President-elect Trump, the future of its regulatory approach remains uncertain, particularly regarding digital assets like XRP and NFTs. The outcome of these legal battles could significantly impact the evolving landscape of cryptocurrency regulation.
The U.S. crypto market is poised for expansion with new ETFs targeting assets like XRP, Solana, Litecoin, and HBAR expected in 2025, following the success of Bitcoin ETFs that have attracted over $35 billion in inflows. As institutions like VanEck and 21Shares submit applications, regulatory shifts may facilitate this growth, especially with potential changes in SEC leadership. Despite recent withdrawals from existing Bitcoin and Ether ETFs, the overall market sentiment remains optimistic, with Bitcoin's price showing a significant upward trend.
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The SEC's deadline for approving four Solana ETFs is approaching, with experts predicting delays until the next deadline on March 11. Analysts believe that the lack of a regulated US futures market for Solana, unlike Bitcoin and Ethereum, will hinder approval, although expectations for a more favorable regulatory environment may arise under new leadership. In the meantime, Bitcoin has risen 1.7% to $93,514, while Ethereum has dipped 0.2% to $3,244.
Donald Trump faces a significant legal hurdle as the U.S. Supreme Court denied his emergency appeal to delay sentencing related to his conviction for falsifying business records. Despite this setback, he is preparing to advance his crypto agenda, including plans for a national Bitcoin reserve and appointing Paul Atkins, a crypto-friendly former SEC commissioner, to lead the SEC. Trump continues to label the charges against him as politically motivated, asserting that they are part of a "witch hunt."
Bitcoin is currently facing challenges, trading at $92K amid market panic following the DOJ's approval to sell Bitcoin, seen by some as a politically motivated move by the Biden administration. With Trump's potential return, optimism grows for pro-crypto policies, including a Bitcoin Strategic Reserve, as key figures like Paul Atkins at the SEC and David Sacks are expected to influence favorable regulations. Anthony Scaramucci predicts Bitcoin could reach $200,000 by year-end 2025, viewing current volatility as a buying opportunity and likening Bitcoin's growth potential to the early internet era.
The US Senate Banking Committee is set to establish its first crypto-focused subcommittee, chaired by Senator Cynthia Lummis, with voting scheduled for next Thursday. This initiative aims to provide clarity for the crypto industry, following a similar move in the House Financial Services Committee. The new administration's appointments, including former SEC commissioner Paul Atkins and Treasury Secretary Scott Bessent, signal a potential shift towards friendlier regulations for digital assets.
Paul Atkins
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