October is here, and the 2024 U.S. presidential election is mere weeks away. After months and months of drama, investors may now be tuning in with real focus for the first time. Both candidates, of course, have driven significant media discourse on areas from foreign policy to economic policy, but one area that has gone undercovered related to the election may be crypto and bitcoin.
See more: Hedge Funds, Institutional Investors Embracing Bitcoin ETFs
Recent analysis from CoinShares’ Bi-Weekly Digest took a further look at each major candidate’s potential impact on bitcoin. For example, it suggests former President Donald Trump’s plans could potentially benefit bitcoin in some important ways. Tariffs and other protectionist measures, for example, could weaken the “U.S. Dollar’s status as a reserve currency.” That, it suggests, would benefit bitcoins usage as a hedge.
In terms of negative outcomes, were the dollar to strengthen due to a more conservative fiscal outlook under Trump, bitcoin could suffer. Overall, however, both Trump and his vice presidential pick, Ohio Sen. J.D. Vance, have shown favor to cryptocurrencies in the past. Their hypothetical administration could see regulatory limits ease for digital assets and improve the outlook for cryptocurrencies therein.
Vice President Kamala Harris, meanwhile, may take a “more balanced approach” to crypto than her previous running mate, President Joe Biden. Harris has recently turned more positive toward crypto, though her overall record in the space may not be as favorable for crypto as Trump’s.
Whichever way the election goes, investors have a variety of ETF options with which they can adapt. The Coinshares Valkyrie Bitcoin Fund (BRRR ) presents one route therein. It charges a relatively low fee of 25 basis points. Having launched just this year, it’s already gained $560 million in AUM. BRRR tracks the price performance of spot bitcoin (BTC), one of a select few funds providing direct access to the currency. For those looking for options based on how the election goes, it could appeal.
For more news, information, and analysis, visit the Crypto Channel.
