Crypto companies at the moment are ready to listen to again on 72 energetic functions for brand spanking new crypto-related exchange-traded funds (ETFs).
James Seyffart, an ETF analyst at Bloomberg Intelligence, compiled the record of submissions to the U.S. Securities and Trade Fee (SEC).
ETFs awaiting approval embrace funds tied to Solana (SOL), XRP (XRP), Sui (SUI), Litecoin (LTC), Axelar (AXL) Hedera (HBAR), BNB, Cardano (ADA), Avalanche (AVAX), Dogecoin (DOGE), Polkadot (DOT), Aptos (APT), Chainlink (LINK), Pudgy Penguins (PENGU), Official Trump (TRUMP), Melania (MELANIA) and Bonk (BONK).
Different potential new ETFs are tied to a basket of currencies, and some are based mostly on Bitcoin (BTC) and/or Ethereum (ETH), belongings which have already been authorized for inclusion in different spot ETFs.
Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence, predicts that BTC ETFs will stay dominant whatever the variety of altcoin funds which are authorized.
“No Second Finest? Bitcoin ETFs command 90% of all of the crypto fund belongings globally. Whereas a TON of alt/meme coin ETFs are doubtless going to hit market this yr, they may solely make a minor dent, Bitcoin more likely to retain at the least 80-85% share long-term.”
The SEC greenlit the primary spot market Bitcoin ETFs in January 2024, bringing in billions of {dollars} price of inflows to the highest digital asset by market cap, and the regulator subsequently authorized Ethereum ETFs for buying and selling final July.
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Featured Picture: Shutterstock/Don White – Artwork Dreamer/Vladimir Sazonov