President Donald Trump’s growing involvement in digital assets also plays a role in the trades that the ETFs will track. Meanwhile, New York City Mayor Eric Adams withdrew from his reelection campaign, due to financial challenges and ongoing scandals. Adams wanted to position New York as a potential global crypto hub, and pushed for a Bitcoin bond, repealing the BitLicense, and launching a digital advisory council. His exit raised uncertainty about whether the city’s next leadership will support the industry with the same enthusiasm. Political Trading ETF Eyes Debut This Week A new exchange-traded fund (ETF) that could shine a spotlight on the intersection of politics, finance, and cryptocurrency may be on the verge of launching. Bloomberg ETF analyst Eric Balchunas said that the Tuttle Capital Government Grift ETF (GRFT) might go live as early as Friday, after confirmation from the Securities and Exchange Commission (SEC) that Tuttle Capital Management’s S-1 registration statement will become effective on Oct. 3. The fund was originally proposed earlier this year, and is designed to track trading activity by US politicians, particularly members of Congress and their spouses, by using disclosures mandated by the STOCK Act. But it goes even further, investing in companies with identifiable ties to presidential influence. These may include businesses with executives or directors closely linked to the White House or firms that receive public endorsements from the sitting president, currently Donald Trump. GRFT will hold between 10 and 30 positions, a mix of stocks and ETFs, with weightings reflecting both the size of congressional trades and the perceived clout of presidential backing. Tuttle said in its filing that the strategy is built on the view that political figures and those connected to the presidency have unique power to influence market outcomes or access information that can affect stock pricing. Trump’s deepening role in cryptocurrency could add another dimension to the fund. His Trump Media & Technology Group (DJT) controls 15,000 Bitcoin worth $1.7 billion, while its Truth Social subsidiary has spot crypto ETF filings. The Trump family also supports American Bitcoin Corp (ABTC), which is a publicly traded mining firm. Beyond these, Trump has been linked to two meme coins tied to his and his wife Melania’s names, as well as World Liberty Financial, a crypto venture with $5 billion in WLFI tokens held by the family. Bitcoin held by TMTG (Source: BitcoinTreasuries.NET ) Tuttle Capital is no stranger to digital assets. It already manages leveraged crypto exchange-traded products tied to XRP, Solana, Litecoin, and Chainlink. The potential launch of GRFT comes just as the SEC approved generic listing standards that streamline the process for bringing crypto ETFs to market. Balchunas believes this move effectively ensures more approvals ahead. Adams Exit Clouds NYC Crypto Future In other political news, New York City’s ambitions to become a global crypto hub face uncertainty after Mayor Eric Adams announced on Sunday that he will not seek reelection. In a video that was posted on X , Adams pointed to financial struggles stemming from his dismissed federal bribery case and the withholding of public funds, and said these factors undermined his ability to run a serious campaign. “Despite all that we have achieved, I cannot continue my reelection campaign,” he said. He also added that media speculation and the loss of campaign financing made his position untenable. Adams was elected in 2022 on a platform focused on public safety and economic recovery, and was credited with lowering crime rates and boosting the city’s economy, but his time in office was dogged by scandals. He pledged to continue his public service despite ending his campaign. Adams has been one of the strongest political advocates for cryptocurrency in New York. Earlier this year, he announced plans to make the city “open for business” for crypto firms, proposed creating a digital advisory council to attract investment and jobs, and even called for a Bitcoin bond. He also pushed to repeal New York’s strict BitLicense regime, which many in the industry see as a barrier to growth. However, the proposals were met with resistance. City Comptroller Brad Lander rejected the Bitcoin bond idea as “legally dubious and fiscally irresponsible.” With Adams stepping aside, the crypto industry is now eyeing his potential successors. Frontrunner Zohran Mamdani, who is a democratic socialist assemblyman, has not clarified his stance on digital assets. This raises concerns among people in the industry who fear a less favorable environment under his leadership. Former Governor Andrew Cuomo, polling in second place, has shown mixed signals as he previously worked as an adviser to crypto exchange OKX during a federal probe but generally favors stricter regulation. NYC mayoral elections odds on Polymarket According to prediction platform Polymarket, Mamdani currently dominates with 86.1% support against Cuomo’s 13%. The city’s mayoral election is scheduled for Nov. 4, 2025.
