The Trump administration is once again boosting the crypto market with a new initiative. Over the weekend, the U.S. president announced the creation of a “Strategic Cryptocurrency Reserve,” which will include digital assets such as Bitcoin, Ethereum, Ripple, Solana, and Cardano. These new steps align with Donald Trump’s goal of making the U.S. the “crypto capital of the world.”
As a result of this announcement, the price of some cryptocurrencies surged: Bitcoin reached $93,000, while Ripple and Cardano saw significant gains, and Ethereum rose by 11%.
Without a doubt, the initiative announced by Trump has revitalized the entire industry, as crypto market sentiment had hit rock bottom. “The Crypto Fear and Greed Index had dropped from 55 (neutral) to 21 (extreme fear) in less than a week. Last Friday’s Bybit hack shook investor confidence, compounded by growing uncertainty over tariffs on Mexico and Canada, which will indeed take effect, adding to market anxiety,” acknowledged Simon Peters, an analyst at eToro, just three days ago.
This negative sentiment was also evident in Bitcoin’s price, which was holding at the $92,000 support level. The cryptocurrency has fallen 20% from its all-time high of $109,300. According to experts, a 35% correction could bring it down to around $70,000.
The SEC Clearly Shifts Its Stance on Cryptocurrencies
Crypto industry experts highlight that these initiatives reflect a shift in Trump‘s stance on cryptocurrencies, from initial skepticism in 2019 to active support today, with the declared goal of making the U.S. the “crypto capital of the world.” A clear example of this shift is that Trump is set to host the first Cryptocurrency Summit at the White House next Friday—the first such event organized by a U.S. president.
Another example of this change in approach involves Coinbase. Last week, the SEC announced that it had agreed to dismiss its enforcement case against the company. “If incoming SEC Chairman Paul Atkins approves the decision, the dismissal will mark the end of the ‘regulation by enforcement’ approach led by former SEC Chairman Gary Gensler,” explains Frank Dowing, Director of Analysis for Next Generation Internet at ARK.
According to Dowing, during Gensler’s tenure—from April 2021 to January 2025—the SEC filed numerous cases against Coinbase and its competitors, alleging that digital asset exchanges and staking businesses violated U.S. securities laws. “Despite good-faith efforts to comply with ambiguous securities regulations applied to digital assets, cases against these companies continued. Now, a crypto-friendly administration has taken the lead. Several bills on stablecoins and digital asset market structure are expected to move quickly through the Republican-controlled Congress, providing regulatory clarity for companies in the sector. In our view, the shift toward common-sense legislation and regulation will accelerate the adoption of public blockchains, benefiting investment strategies with significant exposure to digital assets,” Dowing notes.
Crypto ETFs: An Unstoppable Success
A clear sign of the favorable environment for crypto assets is the surge in passive investment vehicles. According to State Street projections, growing demand for crypto ETFs will soon surpass assets in precious metal ETFs in North America, making them the third-largest asset class in the ETF industry—behind only stocks and bonds.
Bitcoin and Ethereum ETFs were launched in the U.S. just last year, yet they have already accumulated $136 billion in assets, despite the recent market correction. State Street also forecasts that the SEC will approve more crypto-specific ETFs this year, with Litecoin, XRP, and Solana being the most likely to receive spot ETF approval, given that multiple U.S. ETF providers have already filed applications for these products.
