Following SEC Chair Gary Gensler’s resignation, multiple firms filed for crypto ETF, including Solana and XRP futures.
Gary Gensler is stepping down as Chair of the SEC. As a result, there have been a lot of new crypto ETF entries.
Companies have put in plans for a range of ETFs over the last two days, such as XRP Futures ETFs, Solana Futures ETFs, and other funds that focus on digital assets.
It was ProShares that first put out the Bitcoin ETFs, and on January 17, they filed for a Solana Futures ETF. The goal of this fund is to give buyers access to Solana (SOL) through futures contracts instead of letting them own the token itself.
This shows that people are becoming more interested in Solana, but some experts, like James Seyffart, are worried about problems like the fact that there aren’t any CME futures and there isn’t much money in Solana options. Seyffart also thinks that Solana ETFs based in the U.S. might not come out until 2026.
More companies are getting into ETFs. The company CoinShares, which used to be called Valkyrie Funds, put in an application for the “CoinShares Digital Asset ETF.”
This fund will invest in a crypto market index. ProShares filed for more leveraged, inverse, and futures ETFs linked to XRP, which shows that more and more people want a variety of crypto investment goods.
ETF applications have grown past Solana and XRP as well. VanEck recently put in an application for the “Onchain Economy” ETF, which is aimed at coders, miners, and exchanges that work with blockchain technology. Tidal DeFi also put in an application for the “Oasis Capital Digital Asset Debt Strategy ETF.”
This fund would buy debt securities from crypto-focused companies like miners and payment processors. Nate Geraci, president of The ETF Store, said that these reports show how the crypto market is growing.
In the ETF space, Ripple and Litecoin are also getting more attention. Ripple ETFs are getting more attention again, and the chances of approval have gone up to 70%.
This is because the price of XRP has gone up and regulations have changed. Analysts think that governmental problems could keep approval from happening until around the middle of 2025.
Also, Nasdaq recently filed to list Canary’s Litecoin ETF, and Bloomberg analyst Eric Balchunas said he was sure it would be approved because Litecoin is a commodity and the SEC has been open to similar requests in the past.
