The Tone Around Crypto Has Changed Since Donald Trump Returned to the White House

The crypto industry is buzzing with anticipation as it adjusts to the changing political landscape and the impact of key regulatory decisions.

The crypto industry is buzzing with anticipation as it adjusts to the changing political landscape and the impact of key regulatory decisions.

With Donald Trump back in the White House, there’s a palpable shift in the tone around crypto. The industry is feeling cautiously optimistic about a potential break from what some perceive as an overly critical stance from the Biden-Gensler administration and a new era of more favorable regulation.

A key area of focus is the U.S. Securities and Exchange Commission’s (SEC) scrutiny of Grayscale’s applications for Spot Solana (SOL) and Litecoin (LTC) ETFs.

A key area of focus is the U.S. Securities and Exchange Commission’s (SEC) scrutiny of Grayscale’s applications for Spot Solana (SOL) and Litecoin (LTC) ETFs.

Recently, the SEC announced extensions to the review period for both applications.

In its announcement, the SEC stated that it requires more time to assess whether Grayscale’s application for the iShares Solana Trust meets the criteria for approval.

In its announcement, the SEC stated that it requires more time to assess whether Grayscale’s application for the iShares Solana Trust meets the criteria for approval.

The agency will examine if the product is "adequately designed to provide investors with the purported benefits of an investment in the underlying asset(s)" and if it "will be sold in a manner consistent with the public interest."

It will also be scrutinizing the application to ensure it complies with Section 6(c) of the Securities Exchange Act of 1934, which is often used to assess novel financial products.

If approved, the ETF will allow investors to gain exposure to Solana through traditional brokerage platforms.

If approved, the ETF will allow investors to gain exposure to Solana through traditional brokerage platforms.

Similarly, the SEC has also extended the review period for Grayscale’s Litecoin Trust.

The agency is continuing its assessment of the application to ensure it fulfills the requirements for approval under the relevant provisions of the Exchange Act and that the structure of the Litecoin market is in accordance with the applicable rules of the SEC.

Both applications are now undergoing a prolonged evaluation process, which could involve multiple phases of review and feedback before a final verdict is delivered.

This news comes as Bloomberg analyst Eric Balchunas recently highlighted the increasing number of crypto ETF filings.

According to his latest count, there are now 72 crypto ETF applications pending with the SEC, showcasing the growing demand for digital asset investment products.

As the agency juggles a backlog of applications, it faces an increasingly urgent task in clearing the filings.

Polymarket trends and price action

Despite the SEC delay and the increasing pressure on the agency to approve or deny the filings, market sentiment remains bullish.

According to the predictions on Polymarket, there’s still a strong chance that the Solana ETF could be approved by the end of 2025, with odds at 82%. Similarly, the Litecoin ETF approval odds stand at 80%.

Moreover, the price action of major altcoins showcased resilience. Solana is currently trading at $182.13, showcasing a 24-hour price gain of 2.46%. Litecoin, on the other hand, is valued at $104.45, notching up a 0.27% price appreciation within the same period.output:

Moreover, the price action of major altcoins showcased resilience. Solana is currently trading at $182.13, showcasing a 24-hour price gain of 2.46%. Litecoin, on the other hand, is valued at $104.45, notching up a 0.27% price appreciation within the same period.output:

Since Donald Trump returned to the White House, the tone around crypto has changed. Optimism has grown as industry voices expect a break from the Biden-Gensler era’s regulatory chokehold.

Yet, challenges remain, particularly in the ETF approval space.

Yet, challenges remain, particularly in the ETF approval space.

SEC delays Grayscale’s ETF proposals

The U.S. Securities and Exchange Commission recently extended its review of Grayscale’s applications for Spot Solana [SOL] and Litecoin [LTC] ETFs.

According to the agency, more time is required to examine whether these filings meet key standards on investor protection and market integrity.

The review falls under the Securities Exchange Act of 1934, a statute often used to assess novel financial products.

If eventually approved, the ETF would enable investors to gain exposure to Solana through traditional brokerage platforms.

If eventually approved, the ETF would enable investors to gain exposure to Solana through traditional brokerage platforms.

A similar extension was applied to Grayscale’s Litecoin Trust, with the SEC citing the need for more time to assess whether the application fulfils legal and market structure requirements.

Both filings now face a prolonged evaluation process, potentially involving multiple phases before a final verdict is delivered.

Both filings now face a prolonged evaluation process, potentially involving multiple phases before a final verdict is delivered.

This followed Bloomberg analyst Eric Balchunas recently drawing attention to the growing pile-up of crypto ETF filings, now totaling 72, highlighting an increasingly competitive race for regulatory clearance in the digital asset investment space.

Polymarket trend and price action

Despite the delay, market sentiment hasn’t soured. In fact, Polymarket odds remained bullish.

As of press time, there’s strong optimism surrounding approval odds; the chances of a Solana ETF being green lit by the end of 2025 are 82%, with the Litecoin ETF close behind at 80%.

As of press time, there’s strong optimism surrounding approval odds; the chances of a Solana ETF being green lit by the end of 2025 are 82%, with the Litecoin ETF close behind at 80%.

Interestingly, the price action of major altcoins also reflected resilience, as Solana traded at $182.13 and Litecoin at $$104.45, both logging notable gains over the past 24 hours.