Crypto Futures May Gain Popularity and SEC Approval, Say Executives
On Thursday, Blockworks' Digital Asset Summit concluded with the launch of two solana futures ETFs by Volatility Shares and a filing for a Pudgy Penguins fund by Canary Capital.
Key points from discussions at the summit included:
- Futures products are primarily trading vehicles, less popular than spot products.
- Launch of CME solana futures may trigger approval for proposed spot SOL ETFs.
- Regulated markets can be demonstrated through crypto exchanges sharing data with regulators.
- Various altcoin ETF filings exist, including products for XRP, LTC, DOGE, and others.
- The SEC is more open to engagement but is not signaling high approval chances for these filings.
- Next potential approvals could include in-kind creations/redemptions for existing ETFs and staking options for ETH.
- The SEC's process may become easier with a clear regulatory framework for crypto assets.
Overall, while interest in altcoin ETFs is rising, actual approvals will likely depend on regulatory developments and market demand.