Much has been made about the surprising turn of events that led to spot Ethereum ETFs gaining initial approval from the Securities and Exchange Commission and how shifting political sentiments may have played a factor.

But Bitwise Asset Management executive Katherine Dowling said there may have been one person who knew the approvals were coming down the pike.

“There may have been one person who knew, Trump," Dowling said on Thursday during a panel at the Consensus crypto conference. "I think Trump knew we were getting those approval orders and he might have very well been the only person who knew cause we didn’t.”

Trump's team did not immediately respond to a request for comment.

Dowling, who serves as Bitwise's general counsel and CCO, made her comments during a panel on spot bitcoin …