Bitcoin’s increasing presence in US political conversations, highlighted by figures like President-elect Donald Trump, and the progression of ETF approvals signal a significant shift in the cryptocurrency and political landscape.
Bitcoin emerged as a prominent topic in the US presidential election, marking a significant shift in political discussions. Raphael Zagury, Chief Investment Officer at Swan Bitcoin, highlighted this trend during an interview on Market Domination Overtime hosted by Yahoo Finance journalist Julie Hyman.
Zagury noted that Bitcoin-related discussions initially started among senators and have now extended to high-profile figures like former President Donald Trump, whose positive remarks on Bitcoin surprised many in the Bitcoin community. This growing political interest has been particularly appealing for individuals disillusioned with current politics, suggesting a substantial change could be on the horizon.
Moreover, the approval of spot Bitcoin exchange-traded funds (ETFs) in the US has been a critical development, according to Zagury. He emphasized the importance of gaining more support and clarity regarding Bitcoin investments.
This discussion coincides with the anticipation of the spot Ethereum ETF launch in the US. Seven ETF issuers recently submitted amended S-1 filings, and Bloomberg ETF analyst Eric Balchunas predicted a potential trading debut on July 2. These filings also revealed details about sponsor fees and seed investments from various firms. For example, Franklin Templeton will charge a 0.19% management fee, waiving it for the first $10 billion invested for six months, while BlackRock announced receiving $10 million in seed funding.
In sum, Bitcoin’s growing role in politics and the progress in ETF approvals signify notable changes in the intersection of cryptocurrency and political spheres.