XRP, Solana, DOGE and Others Among 72 Different ETF Applications Waiting for SEC Approval: Report

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Crypto companies at the moment are ready to listen to again on 72 lively purposes for brand new crypto-related exchange-traded funds (ETFs).

James Seyffart, an ETF analyst at Bloomberg Intelligence, compiled the listing 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), property which have already been permitted 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 might be permitted.

“No Second Greatest? Bitcoin ETFs command 90% of all of the crypto fund property globally. Whereas a TON of alt/meme coin ETFs are seemingly going to hit market this yr, they are going to solely make a minor dent, Bitcoin prone to retain a minimum of 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 permitted Ethereum ETFs for buying and selling final July.

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