Crypto Becomes U.S. Election Issue as Key Documents for Ether ETFs Approved Unexpectedly

Key documents for proposed ether exchange-traded funds (ETFs) were unexpectedly approved, indicating that crypto has become an election issue. ARK Invest CEO Cathie Wood stated that sentiment around the Financial Innovation and Technology for the 21st Century Act (FIT21) in the House had evolved, leading to the sudden approval. Wood also announced that ARK will allocate a percentage of its private fund revenues to support Bitcoin developers, and that while a solana ETF could be approved, meme coin-focused funds are unlikely.