Fund Issuers Submit Multiple Crypto ETF Applications Ahead of 2025
Fund issuers are planning to launch various crypto ETFs in 2025.
Bitwise filed for a Bitcoin Standard Corporations ETF, targeting firms holding at least 1,000 BTC. Strive Asset Management has proposed a Bitcoin Bond ETF, focusing on convertible securities from companies like MicroStrategy that intend to use proceeds for BTC purchases.
REX Advisers plans a Bitcoin Corporate Treasury Convertible Bond ETF, investing in convertible bonds from major crypto-holding companies. ProShares is developing three bitcoin-related funds: an S&P 500 Bitcoin ETF combining long positions in S&P 500 stocks with a short US dollar/long bitcoin position via futures contracts, and two additional products linked to Nasdaq 100 stocks and gold performance.
Volatility Shares filed for an ETF investing in solana futures contracts, which currently do not exist. The firm previously attempted to launch ether futures funds in mid-2023 but paused when others re-filed similar products. It is credited with contributing to the approval of ether futures and spot ETH products.
Numerous firms, including VanEck, 21Shares, Canary Capital, Bitwise, and Grayscale, have active filings for spot solana ETFs. It remains uncertain if the SEC will alter its requirement for a regulated futures market before approving other spot crypto funds.
Bloomberg Intelligence’s Eric Balchunas noted the ongoing activity among ETF issuers, suggesting more filings may be expected in the upcoming year.