CoinShares CEO Jean-Marie Mognetti expressed confidence regarding the future of Bitcoin (CRYPTO: BTC) ETFs and other cryptocurrencies such as Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL) under the incoming administration of President-elect Donald Trump.

What Happened: Mognetti highlighted the substantial inflows into U.S. Bitcoin ETFs following the election. He noted that the Bitcoin ETF sector has witnessed 12 consecutive weeks of net inflows, a trend unseen since 2021. Mognetti anticipates that the new administration will maintain a positive stance towards cryptocurrency, potentially benefiting Ethereum and other digital coins, CNBC reported on Tuesday.

“The Trump administration coming up in January or February is nourishing a lot of hope,” Mognetti said.

See Also: Crypto Market Predicted To Surge To All-Time Highs By Late 2025, But A 30% Drop In Bitcoin Prices Could Come First

Mognetti also pointed out that the U.S. market has been lacking in crypto products since 2014, when the first application was submitted. The SEC has been cautious in approving new products, but Mognetti believes this is changing, allowing more issuers to properly introduce coins. As the market evolves, he expects increased investment demand for cryptocurrencies, driven by greater market education and regulatory support.

Why It Matters: The optimism from Mognetti aligns with recent statements from Michael Saylor, co-founder of MicroStrategy (NASDAQ:MSTR), who emphasized the incoming Trump administration’s seriousness about establishing a U.S. strategic Bitcoin reserve. Saylor urged investors to “buy it now and own the future,” suggesting that capital will flow into digital assets and the Bitcoin network.

Furthermore, President-elect Trump has pledged to “do something great with crypto,” indicating a significant shift in U.S. policy on digital assets. Trump emphasized the need for the U.S. to stay ahead of global competitors, particularly China, in embracing cryptocurrency. This potential policy shift could lead to increased regulatory support and market education, fostering a more favorable environment for cryptocurrencies like Bitcoin and Ethereum.

Price Action: According to Benzinga Pro data, at 8:42 am ET, Bitcoin was up at $1,07,469.30 while Ethereum was trading at $4,008.83. Meanwhile, Bitcoin based ETFs were also seeing an upward movement. Bitwise Bitcoin ETF (NYSE:BITB) was up by 1.56%, iShares Bitcoin Trust ETF (NASDAQ:IBIT) was up by 1.66% and Grayscale Bitcoin Trust (Btc) (NYSE:GBTC) was trading 1.40% higher.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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