President Donald Trump announced plans on Sunday to establish a strategic crypto reserve that will include Bitcoin, Ethereum, XRP, Solana, and Cardano. This move signals a potential shift in the U.S. government’s stance on digital assets and could significantly alter the landscape for crypto investments.
Following the announcement, Bitcoin briefly surged above $95,000 before pulling back to around $90,000 by Monday afternoon, according to CoinMarketCap data.
Crypto ETFs See Immediate Gains
In response to Trump’s announcement, top bitcoin exchange-traded funds (ETFs) saw notable gains. The iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC) rose by approximately 7% on Monday. These increases reflect investor optimism about the U.S. government’s involvement in cryptocurrency.
A Shift in U.S. Digital Asset Policy
Trump’s announcement, made via a post on Truth Social, outlines an executive order to establish a U.S. Crypto Reserve that includes major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). The president also stated his intention to ensure that the U.S. remains the “Crypto Capital of the World.”
In a follow-up post, Trump emphasized, “BTC and ETH, as other valuable Cryptocurrencies, will be the heart of the Reserve. I also love Bitcoin and Ethereum!”
Market Response
The announcement led to a surge in crypto prices over the weekend, though the market cooled by Monday. As of the latest data, Ethereum has dropped by 9.1% in the past 24 hours, XRP is down 9.8%, and Cardano’s ADA has fallen by 7%.
The announcement has ignited speculation about how this new initiative might affect the future of cryptocurrency in the U.S. and globally, with investors watching closely to see if other countries will follow suit with similar plans.
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