(Bloomberg) -- Money managers including Vanguard and State Street are remaining stoical amid speculation that President-elect Donald Trump is planning to scrap a new rule that had been expected to channel trillions of dollars into their funds.

ETFs were poised to more than triple assets under management over the next five years in part thanks to a Department of Labor regulation that requires financial advisers to prioritize their clients’ interests when recommending retirement investments, according to a September report from BNY Mellon. However, the rules, which were due to take effect in April, have publicly drawn the ire of Trump adviser Anthony Scaramucci, founder of investment firm SkyBridge Capital, casting doubt on their future.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.