It’s been a wild year for crypto — with the approval of the first Bitcoin and Ethereum ETFs and explicit approval from Republican frontrunner Donald Trump. Now that he’s won, could things get even wilder? After Bitcoin eclipsed a record $75K in the hours leading up to his victory, maxis are eager to see what comes next (and what it means for the industry).

• According to The New York Times, pundits expect Trump to end the Biden administration’s “aggressive crackdown to curb securities violations by crypto companies” and to fire crypto-critical SEC Chair Gary Gensler.
• Trump is expected to take a more favorable stance on crypto-related regulations, potentially spurring more US-based crypto IPOs, expanded domestic crypto mining, and the approval of additional crypto ETFs.

Inflow bonanza: Institutional interest in crypto has been a monster theme in crypto’s strong 2024 performance, with Bitcoin up as much as 75% this year. In recent weeks, US ETFs grew to hold about 1M of the 21M available Bitcoin, underscoring Wall Street’s growing accumulation and interest. Adding to the scramble, Trump’s administration has committed to maintaining an unofficial Bitcoin reserve, with some party members urging him to adopt a national reserve. Trump has set high expectations among his crypto supporters — and they’ll be keeping a close watch to see if he delivers.