Jeff Sica of Circle Squared Alternative Investments expects market indicators to turn positive following Trump's election victory.
In what would be the first role of its kind, President-elect Trump is considering a position solely focused on cryptocurrency policy, FOX Business has learned.
This person will have the president's ear, although it's unclear whether the role will be an imperial type or a White House staffer, according to industry sources familiar with the discussions.
Officials in this role will interact with regulators such as the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Former President Trump visited Pubky, a crypto-themed bar in New York City's West Village, on September 18th. (Spencer Pratt/Getty Images/Getty Images)
President Trump visits Cryptobar in New York
The president-elect campaigned among pro-crypto voters, winning the popular vote and electoral votes that helped him win the White House. He visited crypto bar PubKey in New York City in September and was a keynote speaker at Bitcoin 2024, a well-attended industry trade show in Nashville.
Trump Media in talks to acquire virtual currency market
Former President Trump gestures at the Bitcoin 2024 event in Nashville, Tennessee on July 27. (Reuters/Kevin Wurm/File Photo/Reuters Photo)
President Trump plans to fire current SEC Chairman Gary Gensler, who has resisted a full push to deregulate cryptocurrencies, even though the first Spot Bitcoin ETF was approved in January 2024 under his watch. said.
Bitcoin Whale ETF soars to all-time high
Bitcoin, the largest cryptocurrency by market capitalization, hit a new all-time high of $94,000 in afternoon trading Wednesday, hitting a 52-week low in November 2023 tracked by Dow Jones Market Data Group. That's up more than 156% from $36,815.63.
The top three ETFs have one thing in common
iShares Bitcoin ETF Trust
The surge in prices has boosted crypto exchange-traded funds (ETFs), with the largest, iShares Bitcoin Trust, having more than $40 billion in assets, a record high.
Other Bitcoin ETFs are also attracting a lot of interest.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| GBTC | Grayscale Bitcoin Trust ETF – USD ACC | 74.99 | +1.41 |
+1.92% |
| FBTC | Fidelity Wise Origin Bitcoin Fund – USD ACC | 82.54 | +1.59 |
+1.96% |
| ARKB | ARKB – ARK 21SHARES Bitcoin ETF – USD ACC | 94.30 | +1.86 |
+2.01% |
Trump's transition team did not immediately respond to a FOX Business inquiry.
Bloomberg first reported that President Trump is considering the role of cryptocurrencies.
