VanEck’s Valentino Sees Global Crypto Expansion Under Trump’s Influence
Alessandro Valentino, VanEck’s product manager, believes Donald Trump’s crypto-pleasant policies have set a global precedent. Trump’s management opened doors for crypto expansion into traditional finance, inspiring european countries like Germany, Ireland, and Luxembourg to follow suit.
Valentino highlighted VanEck’s success in Europe, noting that their cryptocurrency ETFs reached over $500 million in assets under management. He emphasized how regulations are trending positively with initiatives like the DLT pilot program, which allows companies to test blockchain technology safely.
Trump’s role in reducing crypto regulatory hurdles is important. By dismissing Gary Gensler, a long-time crypto skeptic, Trump cleared pathways for crypto etfs. He also addressed the banking challenges faced by crypto firms. Yet,regulatory progress varies across Europe due to fragmentation.
- Ireland, Luxembourg, and Germany ease ETF launches.
- Others face more stringent rules.
Despite labeling Trump as the “Crypto President,” Valentino believes a change in leadership won’t drastically impact the industry. He noted crypto firms’ substantial financial support of the Republican party in the 2024 elections.However, he argued that the industry’s size makes it influential regardless of political affiliations.