Cathie Wood, the CEO of ARK Invest, has pointed out that cryptocurrencies have become a significant topic in the context of the U.S. elections. This political relevance might explain why a key document related to a proposed Ethereum Exchange-Traded Fund (ETF) was unexpectedly approved. She suggests that while a Solana ETF might also receive approval, ETFs focused on meme coins are unlikely to be established. The reasoning behind this is that major institutions, such as large brokerage firms and investment advisory companies, are not inclined to support funds that do not fall within the “mainstream” or dominant categories of investments.
Anything that becomes big in economics, becomes important in a capitalist country, not a surprise really.
If there’s money to be made or controlled, the politicians will be there.