Crypto firms are currently awaiting decisions from the U.S. Securities and Exchange Commission (SEC) on 72 active applications for new cryptocurrency-related exchange-traded funds (ETFs). The list of submissions was compiled by JAMES SEYFFART, an ETF analyst at Bloomberg Intelligence.
The proposed ETFs include funds tied to a variety of digital assets such as Solana, XRP, Sui, Litecoin, Axelar, Hedera, Cardano, Avalanche, Dogecoin, Polkadot, Aptos, Chainlink, Pudgy Penguins, Official Trump, Melania, and Bonk. Additionally, some ETFs are linked to a basket of currencies, while others are based on Bitcoin and Ethereum, assets that have already been approved for inclusion in other spot ETFs.
ERIC BALCHUNAS, a senior ETF analyst at Bloomberg Intelligence, predicts that Bitcoin ETFs will continue to dominate the market, even as altcoin funds gain approval. He stated, “No Second Best? Bitcoin ETFs command 90% of all the crypto fund assets globally. While a TON of alt/meme coin ETFs are likely going to hit the market this year, they will only make a minor dent, Bitcoin likely to retain at least 80-85% share long-term.”
The SEC approved the first spot market Bitcoin ETFs in January 2024, leading to billions of dollars in inflows for the top digital asset by market capitalization. The regulator also greenlit Ethereum ETFs for trading in July of the same year.
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Sources: SEC, Bloomberg Intelligence