Number of Crypto ETF Applications to SEC Increases to 33
The number of crypto exchange-traded fund (ETF) applications has increased, with the SEC reviewing 33 applications. This figure doubled recently following changes in SEC leadership.
- Notable applicants include Grayscale, Franklin Templeton, 21Shares, Bitwise, and ProShares.
- Applications cover a range of assets:
- Grayscale for Solana and a basket of assets
- Hashdex and Franklin for Bitcoin and Ether combinations
- Canary and 21Shares for XRP
- ProShares for Solana and XRP futures
- Memecoins like BONK, DOGE, and TRUMP are also included.
- No applications have reached final deadlines yet.
Eric Balchunas predicts Bitcoin ETFs will dominate funds, similar to gold in the commodity market. He views Ethereum as a potential second asset, with XRP and Solana as future competitors.
New ETF Applications
REXShares and Ospreys Funds submitted applications shortly after President Trump's inauguration, aiming to invest at least 80% in specified crypto assets through various methods. Their applications include:
- TRUMP
- ETH
- BTC
- SOL
- XRP
- BONK
- DOGE
After these filings, BONK rose by 15% and DOGE increased by over 6%. The overall memecoin market cap grew by more than 5%, reaching approximately $121 billion.
Despite enthusiasm for Trump’s potential positive impact on the crypto industry, none of his initial executive orders focused on crypto. Speculation exists that he may seek to ban central bank digital currencies, which he previously labeled a threat to freedom.