James Butterfill, head of research at CoinShares, said the cryptocurrency industry could benefit from Trump's potential impact on the SEC, as Trump has publicly criticized the agency and its chairman, Gary Gensler, suggesting the agency could shift to a more favorable regulatory stance for cryptocurrencies.
"Trump is also expected to implement stricter fiscal policies to address the growing U.S. debt problem, and this fiscal tightening could lead to looser monetary policies as a counterbalance, which would favor digital assets," Butterfill said in an email.
Butterfill also noted that an improved regulatory environment could help reduce the stigma surrounding cryptocurrency ownership and promote wider adoption.
He added: "Currently, 13F filings show that despite a record $29 billion in inflows this year, adoption remains relatively low. We may continue to see record inflows into Bitcoin this year and next." (The Block)