Grayscale’s ETF Chief Argues Digital Assets Now a Non-Partisan Issue, Signalling Bullish Market

Crypto Reporter

Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

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Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

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August 21, 2024

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David LaValle, Grayscale’s global head of ETFs, stated that digital assets have become a non-partisan issue, suggesting that the sector is relevant across the political spectrum.

“We have seen digital assets more broadly, go from being a partisan issue to a bipartisan issue,” he said in a recent interview with Proactive Investors. “And now, I think it’s essentially a nonpartisan issue, which is probably the most bullish indicator.”

Considering crypto to be a non-partisan issue means it goes beyond traditional political divides. If crypto were non-partisan, policy decisions would ideally focus on the technology’s merits, potential economic impact, and regulatory needs, rather than being swayed by party politics.

Grayscale Poll Shows Digital Assets Are Becoming a Growing Concern for Voters

LaValle noted that Grayscale’s surveys indicate both investors and the general public are increasingly considering digital assets when making voting decisions. This shift explains why the topic has now entered political discussions across parties.

Republican presidential candidate Donald Trump has shifted to support crypto, especially Bitcoin strongly.

He has proposed making the US the “crypto capital of the planet” by establishing a Bitcoin reserve. He also plans to reduce regulatory burdens and oppose government-issued digital currencies. Additionally, Trump backs the rights to manage personal crypto, engage in transactions, and operate crypto infrastructure like nodes and miners.

Meanwhile, Democratic candidate Kamala Harris hasn’t publicly outlined her stance on crypto policy. However, her campaign’s outreach to the sector suggests she may want to adjust her approach. She seems to aim for a middle ground between the Biden administration’s policies and Trump’s strong support for crypto.

Grayscale ETF Chief Advises Financial Pros to Stay Informed

LaValle also pointed out major financial firms like Morgan Stanley now offering Bitcoin ETFs as part of their investment options.

He noted this change requires financial advisors to up their game in having an opinion on digital assets. They need to do this to guide their clients in the evolving market properly.