Crypto ETFs Await SEC Approval: Over 50 in Limbo

A new influx of cryptocurrency ETFs is poised to enter the U.S. market, as more than 50 funds currently await approval from the SEC. According to recent data from Bloomberg, these ETFs encompass a wide range of digital assets including Bitcoin, Ethereum, Solana, XRP, and Dogecoin.

For well-known figures, entries arrive from Grayscale, Franklin Templeton , Bitwise, and VanEck. Based on the information provided, new ETF submissions have been made for Solana ( SOL ), Ripple ( XRP ), Cardano ( ADA ), and DOG It suggests an altcoin season might be approaching with increasing institutional interest in this sector. Additionally, specialized products like Bitcoin and Ethereum staking ETFs along with Ethereum options ETFs are being developed.

Certain filings—like the Bitcoin and Ethereum exchange-traded funds (ETFs) provided by NYSE and CBOE—are subject to end-of-year submission deadlines. However, some other funds, specifically those governed under the Investment Company Act of 1940, do not necessitate complete SEC approval before launching and thus are progressing more swiftly; this includes offerings from firms like ProShares and REX-OSPREY. Such assets encompass a wide range, from Solana to so-called "meme coins." such as Dogecoin .

James Seyffart, an ETF analyst at Bloomberg, has stated that the information about ProShares launching XRP ETFs beginning on April 30 is incorrect. post Seyffarth explained that while ProShares intends to proceed with XRP ETFs, no specific release date has been established yet. However, he indicated that the introduction is expected to happen soon—at some point within either the near future or potentially over a moderate timeframe.

Cryptocurrency exchange-traded funds (ETFs) simplify things for conventional investors looking to enter the crypto market without actually owning or handling digital currencies directly.