## [# Crypto ETFs Emerge as Political Football](/sections/advisor-center/crypto-etfs-emerge-political-football)
# Crypto ETFs Emerge as Political Football
Donald Trump’s support of crypto may force Kamala Harris to follow suit.
[](/authors/jeff-benjamin)
[By Jeff Benjamin](/authors/jeff-benjamin)
Jul 30, 2024
Edited by: James Rubin
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Cryptocurrency ETFs might not be the biggest issue facing every voter this November, but crypto investors are growing into a force that will be difficult to ignore as the leaders of both major political parties scramble for every vote.
Witness [last weekend’s speech](https://www.etf.com/sections/news/spot-bitcoin-ethereum-etfs-are-mixed-after-trump-remarks) by Republican presidential nominee Donald Trump to 3,000 people at a bitcoin conference in Nashville, where he promised to create a “strategic national bitcoin reserve,” and said he would fire anti-crypto SEC chair Gary Gensler, if he’s elected.
The crowd’s passionate response appeared to surprise even Trump, who has proven abilities to strike nerves and stir pots.
Those paying close attention will recognize Trump’s latest effort to tap into the crypto crowd as the pursuit of what campaign professionals refer to as single-issue voters.
## Spot Ethereum Approvals After Political Pressure
The momentum is carrying over from the former president’s vocal [support of crypto](https://www.etf.com/sections/advisor-center/politics-weighs-heavy-spot-ether-etf-process) earlier this year, which seemed to force Democrats to temper their stance on crypto and ultimately led to the Security and Exchange Commission’s July 22 approval of [nine Ethereum ETFs](https://www.etf.com/sections/news/sec-renders-decision-spot-ethereum-etfs-approval).
To those living comfortably outside the crypto sphere this might all seem like noise. But as we saw with the sudden SEC rule change in May that opened the door for Ethereum ETFs, savvy political campaigns will never ignore an opportunity to appease a raucous bloc of single-issue voters.
What this ultimately means is that a response of at least equal support for crypto is coming from the Democratic party and presumptive nominee Kamala Harris.
At this point, the Harris camp is still getting accustomed to its new status as the party's standard bearer following Joe Biden's withdrawal. It hasn't yet named a vice president. But rest assured, the scramble is on to make inroads with crypto fans, an increasingly vocal and growing voting bloc.
That means between now and election day, there will be promises galore that might look like wide open and untethered growth potential for anything related to cryptocurrencies. Such enthusiastic pursuit of political support has largely eclipsed concerns about potentially lax regulatory oversight and potential investor harm.
But, if history is a guide, we can assume most of the bold talk from politicians will result in being just that.
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[ Jeff Benjamin Wealth Management Editor ](/authors/jeff-benjamin)
Jeff Benjamin is the wealth management editor at etf.com, responsible for coverage related to the financial planning industry. This includes writing,… [View Bio](/authors/jeff-benjamin)
Related Topics [Crypto](http://www.etf.com/topics/cryptocurrency)
[Bitcoin](http://www.etf.com/topics/bitcoin)
[Ethereum](http://www.etf.com/topics/ethereum)
[Advisor Center](http://www.etf.com/topics/advisor-center-0)