SEC Evaluates 72 Pending Crypto ETF Filings, Including Derivatives-Based Proposals
As of April 21, the U.S. Securities and Exchange Commission is actively reviewing 72 cryptocurrency-related exchange-traded fund applications, with multiple submissions involving derivative instruments. The regulatory scrutiny reflects growing institutional demand for digital asset exposure through regulated vehicles.
Distribution potential
The filings, detailed in a table compiled by Bloomberg ETF analyst James Seyffart, reflect a broad industry effort to bring a wide range of digital assets to the US ETF market.
Some proposals include spot ETFs for Solana, Dogecoin, and XRP, and Leveraged and inverse products tied to Solana and XRP derivatives.
Additionally, issuers are seeking approval to offer options trading on newly launched or proposed crypto ETFs, particularly those linked to Ethereum (ETH) and Bitcoin (BTC).
Balchunas alsothe effect of ETF approval to a band gaining access to major music streaming services.
He said:
The filings cover a wide array of strategies beyond traditional spot ETFs.
Several issuers, including ProShares and Tuttle Capital, have proposed leveraged, inverse, and thematic products targeting speculative traders and those seeking tailored exposure to crypto price movements.
Bitcoin’s dominance expected to persist
While the influx of altcoin and memecoin-related funds may broaden the crypto ETF landscape, the projection is that Bitcoin will maintain its dominance within the segment.
According to Balchunas, Bitcoin ETFsfor approximately 90% of global crypto fund assets. Even if many new products reach the market, Bitcoin is expected to retain a commanding share, likely between 80% and 85% over the long term.
The observation reflects Bitcoin’s entrenched position as the primary institutional entry point into the crypto market. The pending approvals could create a more diverse, yet still Bitcoin-centered, ETF market.
The SEC’s upcoming decisions, many of which have deadlines extending into mid-2025, will shape how broadly traditional finance markets integrate crypto exposure.
