The cryptocurrency business notched two main victories final 12 months when a number of fund issuers secured long-awaited approvals to supply spot Bitcoin exchange-traded funds and their Ethereum-based counterparts within the U.S. However that does not imply issuers are able to relaxation on their laurels simply but.
In latest months, fund managers have proposed new funding choices instantly monitoring the costs of quite a lot of cryptocurrencies, from Dogecoin to XRP, Solana, and even Donald Trump’s meme coin.
Listed here are the varied crypto-based ETFs that might quickly be supplied in the US, and a have a look at the high-profile filings to this point for every asset.
Solana
Spot Solana exchange-traded funds are one potential different to Bitcoin and Ethereum ETFs that might start buying and selling within the U.S. this 12 months or subsequent.
The proposed funds, which embody the VanEck Solana Belief, 21Shares Core Solana ETF, Canary Solana ETF, and Bitwise Solana ETF, would instantly observe the worth of the fourth-largest cryptocurrency by market capitalization.
In the meantime, a handful of proposed Solana futures ETFs such because the ProShares Quick Solana, ProShares 2x Solana, and Vol Shares’ Solana ETF would allow buyers to make extra complicated bets on Solana’s worth actions.
Nonetheless, each spot and futures Solana ETFs will possible not start buying and selling within the U.S. till 2026, in accordance to Bloomberg analyst James Seyffert. That’s as a result of the U.S. Securities and Alternate Fee nonetheless has to evaluate a batch of spot Solana ETF purposes.
The SEC sometimes takes between 240 and 260 days to make choices on purposes. However ongoing litigation over whether or not Solana is or is not a safety might extend that course of for a number of would-be Solana ETFs.
Nonetheless, if and when spot Solana ETFs are authorised, the investor {dollars} they entice may very well be huge. JP Morgan analysts predict Solana ETFs might collectively usher in between $4 and $8 billion in investments.
Dogecoin
A couple of issuers have signaled that they plan to supply spot Dogecoin ETFs following a wave of political occasions that slingshotted the Shiba Inu-inspired meme coin to a three-year-high worth of $0.48 in December.
Alternate-traded fund supplier Rex Shares utilized in January to launch the Rex-Osprey DOGE ETF, the corporate’s submitting with federal regulators exhibits.
In the meantime, Bitwise Asset Administration has registered a Dogecoin ETF entity in Delaware, a serious step in direction of making use of for permission to launch an exchange-traded fund primarily based on Elon Musk’s beloved cryptocurrency. However Bitwise nonetheless must file a complete software with the SEC earlier than any potential fund might come to market.
Analysts are bullish that it will not take lengthy for Dogecoin ETFs to hit the market, nonetheless. Bloomberg senior ETF analyst Eric Balchunas mentioned this week {that a} spot Dogecoin ETF might theoretically launch as early as April, because of a rule that allows federal regulators to weigh in on funding providing proposals inside an expedited 75-day timeframe, moderately than the standard evaluation interval of eight to 9 months.
XRP
Funds created across the Ripple-linked XRP—such because the Rex-Osprey XRP ETF, Canary XRP ETF and 21Shares Core XRP Belief—are up for evaluation within the U.S., with federal regulators as a result of weigh in on purposes for the funds later this month.
It stays unclear whether or not the ETFs might be authorised or not, however a rash of anticipated rule modifications on the SEC level to the next probability that regulators might quickly inexperienced mild the funds within the U.S.
If XRP ETFs are authorised, then the funds might collectively usher in between $3 and $6 billion in investments, in accordance with a latest estimate from J.P. Morgan analysts.
Past spot XRP ETFs, XRP futures-based exchange-traded funds such because the ProShares Quick XRP and ProShares 2x XRP are additionally up for consideration within the U.S.
The previous would enable buyers to quick XRP, whereas the latter would allow buyers to make leveraged bets on the cryptocurrency’s future worth actions.
HBAR
Canary Capital filed for the primary HBAR ETF final November. HBAR is the native cryptocurrency of the Hedera community.
In an X put up in December, Bloomberg analyst Eric Balchunas expressed optimism a couple of spot HBAR ETF’s odds of receiving approval within the U.S., saying that such a fund might launch earlier than its higher-profile Solana and XRP-based counterparts. Regardless of that, it stays unclear whether or not there’s adequate investor demand for such a fund, he mentioned.
Litecoin
A rash of Litecoin-based ETF purposes have been filed following President Donald Trump’s inauguration this week, because the chilly crypto regulatory atmosphere exhibits indicators of thawing.
CoinShares filed two registration statements for a “CoinShares Litecoin ETF” and “CoinShares XRP ETF,” whereas the New York Inventory Alternate signaled that Greyscale is making an attempt to convert its current Litecoin Belief into an ETF.
The brand new filings come roughly two months after Canary Capital filed for its personal Litecoin ETF, and days after Canary submitted an modification to its software for the fund.
Litecoin is a peer-to-peer cryptocurrency created to enhance verification time for blockchain transactions. Very like its spot HBAR ETF counterpart, Canary Capital’s Litecoin ETF is prone to get authorised earlier than Dogecoin, XRP, and Solana-based funds, in accordance with Bloomberg analyst Eric Balchunas.
That is as a result of Litecoin’s regulatory standing is much less disputed than that of different altcoins akin to Solana, which stay on the heart of a authorized battle between the SEC and main crypto business gamers, in accordance with Balchunas.
BONK, Trump, and past
Rex Shares filed with federal regulators in January to launch spot Trump and BONK-based ETFs, respectively.
The proposed funds kind a part of a rising checklist of meme coin-based funding merchandise spun up by issuers, who’re apparently wanting to capitalize on buyers’ rising curiosity within the digital property market amid the most recent crypto bull run.
Bloomberg analysts predict that TRUMP, BONK, and different meme coin-based ETFs might start buying and selling as quickly as April—that’s, if issuers’ proposals endure and move an expedited evaluation course of with federal regulators.
Edited by Andrew Hayward
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