New Proposals for Crypto ETFs Surface After Bitcoin and Ether Launches
Proposals for new crypto ETFs are increasing in the US following anticipated launches of Bitcoin and Ether ETFs in 2024. Notable proposals include:
- Funds holding Solana, XRP, and HBAR
- A Litecoin ETF plan from Canary Capital Group, recently amended
Canary CEO Steven McClurg expressed confidence in the emergence of more spot crypto ETFs this year. The SEC's decision timeline remains uncertain due to a new administration.
Analyst James Seyffart indicated that a Litecoin ETF might be approved before Solana or XRP offerings, citing Litecoin's lack of security classification by the SEC. In contrast, Solana has been categorized as a security.
ETF.com analyst Sumit Roy noted that Litecoin's simpler use case may improve its approval chances, while caution about market manipulation and custody risks persists across all crypto ETFs.
The Amplify Transformational Data Sharing ETF (BLOK) marks its seven-year anniversary, currently managing assets nearing $1 billion. Its top holdings include Galaxy, Robinhood, Core Scientific, Coinbase, and MicroStrategy.
As new blockchain-related companies go public, BLOK may expand its holdings. Co-portfolio manager Dan Weiskopf is observing miners investing in AI and firms increasing BTC holdings.