Crypto ETF Surge: ProShares, CoinShares, and More Filing Before Genslers Exit, Report
- Crypto ETF filings surge before Genslers departure, with firms eyeing Solana and XRP for futures-based ETFs.
- ProShares and Volatility Shares file for Solana ETFs, despite concerns over liquidity in Coinbase futures market.
- CoinShares and VanEck expand crypto ETF offerings, signaling growth in digital asset-focused investment products.
Cryptocurrency industry has witnessed a rise in ETF filings just before Gary Gensler left his position as the head of the U.S. Securities and Exchange Commission (SEC) on January 20. Several applications were made on January 17 by leading investment firms suggesting more and more companies are showing interest in crypto ETFs. These filings are happening while new administration of President elect Donald Trump is expected to bring changes in the regulation which may be more favorable to crypto currencies.
Among the top filings, ProShares which is an asset management firm submitted an application for a Solana Futures ETF. This fund will allow the investors to get exposure to the price volatility of SOL using futures contracts.
Solana, a popular cryptocurrency, has no CME futures, and the analysts warn that the liquidity of Coinbases Solana futures is still doubtful. However, ProShares filing shows that more and more institutional investors are looking to participate in Solana through a tradable product.
Besides ProShares, another investment management firm Volatility Shares submitted a similar application in December. Nonetheless, considering the existing requirements for such products, the Solana ETFs may not be launched in the United States before 2026.
CoinShares Expands Crypto ETFs
CoinShares, which used to operate under the name Valkyrie Funds, has also applied for an ETF on 17th January. The CoinShares Digital Asset ETF will utilize the Compass Crypto Market Index and offer exposure to the various digital assets. This decision shows the expansion within the crypto ETF space. At the same time, ProShares applied for several ETFs tied to XRP, such as leveraged, inverse, and futures contracts based ETFs.
Tidal DeFi, a company that manages assets based on decentralized finance, has submitted an application for the Oasis Capital Digital Asset Debt Strategy ETF (DADS). This fund intends to invest in the debt securities of companies associated with the crypto market including miners, utilities and payment services. This is an indication that there is increasing focus on the basic financial products that are related to the crypto market.
Crypto Market Awaits Policy Shift
Another major asset manager, VanEck, filed for the Onchain Economy ETF on January 15. The investments made from this fund will be made across numerous companies in the crypto space, such as software companies, exchanges and infrastructure firms.
As Gensler finishes his term as SEC chair, experts and observers have come to expect that these filings will be evaluated under a new set of rules. Outsiders lawsuits against major exchanges such as Coinbase and Binance defined Genslers term. However, with the change of guard, the crypto market is expecting better policies and rules for the market.
Read more: https://www.tronweekly.com/crypto-etf-surge-proshares-coinshares-and-more/
Text source: TronWeekly
