David LaValle also made the point that financial advisors in general need to form an opinion on digital assets since companies such as Morgan Stanley are now selling Bitcoin ETFs.
Grayscale’s global head of ETFs, David LaValle, said that digital assets are now a nonpartisan topic, implying that the industry is important for people of all political stripes.
“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.”
Since cryptocurrency is viewed as a nonpartisan topic, it transcends conventional political lines. If cryptocurrency were apolitical, party politics would ideally not influence policy decisions, which would instead center on the technology’s advantages, possible economic impact, and regulatory requirements.
Grayscale Poll Shows Digital Assets Are Becoming a Growing Concern for Voters
According to Grayscale’s polls, voters and investors alike are taking digital assets into account more often when casting ballots, according to LaValle. This change explains why political discussions on the subject have now spread to all parties.
Donald Trump, a Republican running for president, has changed his stance to strongly support cryptocurrencies, particularly Bitcoin.
He has proposed making the US the “crypto capital of the planet” by establishing a Bitcoin reserve. In addition, he wants to oppose digital currencies issued by the government and lessen regulatory burdens. Trump also supports the freedom to handle one’s own cryptocurrency, conduct transactions, and run mining and node infrastructure.
Meanwhile, Democratic candidate Kamala Harris hasn’t publicly outlined her stance on crypto policy. Her campaign’s outreach to the industry, though, indicates that she might want to change course. She appears to be trying to find a middle ground between the policies of the Biden administration and Trump’s ardent advocacy of cryptocurrency.
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 pointed out that in light of this development, financial advisors need to become more knowledgeable about digital assets. To effectively guide their clients in the changing market, they must take these steps.