Crypto ETF submissions Frenzy Ignites as Gensler’s SEC Era Nears End – Industry Prepares for a Pro-Crypto Shift

Sean Williams

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The cryptocurrency industry witnessed a flurry of exchange-traded fund (ETF) filings at the U.S. Securities and Exchange Commission (SEC) just days before Chair Gary Gensler stepped down on January 20. This rush underscores growing optimism for regulatory shifts under the incoming Trump administration, which is anticipated to adopt a more crypto-friendly stance.

On January 17, ProShares, renowned for launching the first Bitcoin-linked ETF, applied for a Solana Futures ETF. This product aims to provide exposure to Solana’s native cryptocurrency, SOL, via futures contracts rather than direct ownership. However, ETF analyst James Seyffart expressed skepticism about the viability of this launch, citing the absence of CME-listed Solana futures and the limited liquidity of Coinbase’s SOL futures.

Other major players in the ETF market followed suit. CoinShares, formerly Valkyrie Funds, filed for the “CoinShares Digital Asset ETF,” designed to track the proprietary Compass Crypto Market Index. ProShares also submitted filings for a range of XRP-focused ETFs, including leveraged, inverse, and futures-based options.

Tidal DeFi introduced its Oasis Capital Digital Asset Debt Strategy ETF (DADS), which targets debt instruments linked to crypto firms like miners and payment platforms. Similarly, VanEck proposed its “Onchain Economy” ETF on January 15, seeking to invest in a diverse array of crypto-related businesses.

The surge in filings reflects strategic timing as the SEC transitions leadership. Gensler, who assumed his role in April 2021, faced criticism for aggressive actions against major crypto exchanges and unregistered securities. His impending exit has sparked hopes for a more accommodating regulatory landscape under new leadership.

ETF analysts, including Eric Balchunas, noted the significance of this filing frenzy. “Gensler wasn’t even out of the building for five minutes,” Balchunas remarked, highlighting the industry’s readiness for potential regulatory changes.

The Trump administration’s approach to cryptocurrency remains to be seen, but the flood of ETF applications signals the market’s anticipation of a friendlier era for digital assets. As the SEC prepares for new leadership, the crypto industry is poised for a transformative period.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

Also Read: Top Solana Rivals to Buy for 100x Gains Ahead of SOL ETF Approval

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