Crypto ETF Proposals Surge Following Recent Bitcoin and Ether Launches
Recent developments in crypto ETF filings follow the launches of US spot bitcoin and ether ETFs.
- Proposals for Solana and XRP ETFs have emerged.
- REX Shares and Osprey proposed ETFs holding DOGE, BONK, and a memecoin associated with Trump.
- Tuttle Capital Management suggested leveraged ETFs linked to 10 different crypto assets.
- Bitwise filed for a dogecoin ETF.
- Cboe re-filed applications for Solana ETFs from several firms, including Bitwise and VanEck, which the SEC is reportedly not considering.
The SEC's approach to the "Winklevoss standard," requiring a regulated market of significant size, remains uncertain. Currently, only BTC and ETH have such futures markets. The potential introduction of SOL and XRP futures by CME Group is unclear.
SEC Commissioner Hester Peirce's dissent on the Winklevoss requirement raises questions about future regulatory changes. Mark Uyeda is acting SEC chair following Gary Gensler's departure, with Paul Atkins nominated as his successor. Observers expect case-by-case evaluations of crypto product proposals and coordination between the SEC and CFTC.