Odaily News Dragonfly partner Haseeb Qureshi wrote on the X platform that the change in regulatory attitude towards Ethereum ETFs indicates that the Biden administration is softening its crypto policy because they do not want to lose votes in the election competition because of trivial matters (referring to crypto regulatory issues) that are innocuous to them. Qureshi added: "The market will see other regulators change their attitudes in the coming months. Note that this is not a complete reversal. As long as it can reduce differences, it will be fine. Trump will definitely be more supportive of cryptocurrencies, but Biden will soften to the point that he will not completely lose votes for cryptocurrencies."