Media: the campaign to re-elect U.S. President Joe Biden has begun turning to crypto industry players for regulatory guidance in the last two weeks.

That's why we see such a sudden approval of an ETF on Ethereum, which happened in contradiction to the classic procedure, said Katie Wood of Ark Invest:

If the ETF had been approved in the normal way, we would have gotten questions from the SEC ahead of time. But no one was getting those questions from the SEC. Everyone was absolutely certain that the ETH-ETF would fail.

This dramatic reversal indicates the significant influence of an electorate that owns digital assets on the outcome of the election. Trump and Biden, who have spoken negatively about crypto in the past, are now looking to become industry-friendly.