Crypto ETF issuers are leaping on each alternative, hoping to reap the benefits of a extra crypto-friendly SEC.
This yr, the U.S. Securities and Alternate Fee may have its arms full with ETF purposes. On Monday, April 21, Bloomberg analyst Eric Balchunas identified that 72 crypto exchange-traded funds are presently ready for approval.
There are actually 72 crypto-related ETFs sitting with the SEC awaiting approval to record or record choices. All the things from XRP, Litecoin and Solana to Penguins, Doge and 2x Melania and every part in between. Gonna be a wild yr. Nice roundup from @JSeyff pic.twitter.com/IHTqqxeH35
— Eric Balchunas (@EricBalchunas) April 21, 2025
The record consists of altcoins, NFT tokens, memecoins, in addition to a leveraged fund that bets on the Melania Trump token. The Melania 2x fund is one in every of ten leveraged memecoin and altcoin funds by Turtle Capital, registered within the Cayman Islands. As a result of variety of these filings, Balchunas predicted a “wild yr” for crypto.
“There are actually 72 crypto-related ETFs sitting with the SEC awaiting approval to record or record choices. All the things from XRP, Litecoin and Solana to Penguins, Doge and 2x Melania and every part in between. Gonna be a wild yr.”
XRP leads with ETF filings
Whereas the record of ETF filings is numerous to say the least, there are clear leaders within the house. Notably, altcoins like XRP (XRP), Solana (SOL), and Litecoin (LTC) are within the lead on the subject of the variety of particular person filings. Particularly, by April 15, there have been 10 particular person filings for XRP and 5 for Solana. As among the largest altcoins available on the market, they’ve attracted institutional consideration.
Altcoins by variety of ETF filings | Supply: Kaiko
On the identical time, Litecoin and Dogecoin (DOGE) have been tied in third place, with three potential issuers. Each of those tokens profit from their decentralization, whereas Doge additionally gained mainstream consideration because of its affiliation with Elon Musk.
ETFs have gotten a key narrative for crypto adoption as they provide a neater approach for each retail and institutional buyers to realize publicity to digital belongings. As a substitute of holding the belongings immediately, the fund holds underlying belongings, whereas additionally having to stick to stringent regulatory necessities over its custody.
Learn extra: Q&A with Figment: Inside the brand new TSX Solana staking ETF (SOLQ)
