- Ethereum expected to gain from Trump’s election, easing regulatory challenges for blockchain protocols.
- Consensys CEO highlights SEC’s previous stance as a key hurdle for Ethereum’s development.
- U.S. Ethereum ETFs see significant inflows following Trump’s victory, signaling investor optimism.
Ethereum could see significant advancements under the Trump administration, according to Consensys CEO Joe Lubin. Speaking at Devcon 2024 in Thailand, Lubin described Ethereum as well-positioned to benefit from the anticipated regulatory shifts, particularly with changes expected at the U.S. Securities and Exchange Commission (SEC).
Regulatory Barriers and Market Shifts
Lubin highlighted the challenges Ethereum has faced under the SEC’s leadership, describing the environment as restrictive for blockchain innovation. He pointed to the agency’s actions as stifling Ethereum’s growth while creating fear and uncertainty in the market.
“The United States has held Ethereum back significantly,” Lubin remarked, expressing optimism for a more supportive environment with Trump’s election. He noted Ethereum’s maturity and scale, second only to Bitcoin, as key factors positioning it for future growth.
Since Trump’s election victory on November 5, Ethereum has outperformed many other cryptocurrencies. Ether’s price has surged 23% in the past week, trading around $3,200, according to CoinMarketCap data.
Source: CoinMarketCap
ETF Investments Signal Growing Confidence
Ethereum’s momentum has been mirrored by strong investment activity in U.S. spot Ethereum exchange-traded funds (ETFs). Data from Farside shows record inflows of $295 million on November 11, reflecting renewed investor interest in the asset.
Lubin hopes for a smooth leadership transition at the SEC, with current Commissioner Mark Uyeda potentially stepping in as acting chair. He expressed a desire for the outgoing administration to avoid further disruptive actions before the change.
In an open letter published in late October, Consensys urged the incoming administration to establish clear rules for the crypto industry, emphasizing the need for regulatory certainty to foster blockchain innovation. With Trump set to take office in January, Ethereum and the broader crypto ecosystem may be on the verge of a transformative period.
