The SEC first approved US Bitcoin ETFs back in January. In July, the ether fund was launched.
Donald Trump and a number of other segment-friendly candidates for Congress won their elections just in November. Gary Gensler, the SEC chairman announced in January that he will step down after options on BTC ETFs began trading.
The events that have taken place in the past few weeks could lead to more ETFs being filed. This trend is likely not to slow anytime soon. Here’s the latest.
On Tuesday, Bitwise filed an S-1 to create an ETF which would include both Bitcoin and Ether. Nearly half a years after Hashdex hatched a similar plan, Bitwise has filed an S-1 for its ETF. About two weeks ago, Bitwise announced plans to convert their index fund (holding ten crypto assets) into an ETF.
First Trust also announced in the last week its intent to launch defined-outcome funds (aka “buffer”) that will protect investors from loss while limiting upside.
Calamos Investments announced its plans to launch 14 Bitcoin buffer ETFs at the same period as First Trust. Innovator also shared their own BTC-related products.
Grayscale filed for an ETF with a Bitcoin Covered Call when US bitcoin spot ETFs were given final regulatory approval.
It is not surprising that these filings have been made. The ETF Store President Nate Geraci said in a blog post from September X that he expected a “flurry” New ETFs will be introduced once the trading of options on BTC funds begins. He also predicted the buffer and covered call strategy, among others.
Geraci asserted Monday that Bitcoin volatility has increased. “a huge feature, not a bug in context of portfolio construction.”
“But ETF issuers will offer every strategy under the sun to try [and] minimize that vol,” He also added.
Firms continue to innovate in the way crypto assets are held in ETFs.
Following up on Bitwise’s solana ETF plans last week, WisdomTree — a fund group with more than $100 billion assets under management — registered with the state of Delaware for an XRP fund. This fund appears to be a joint effort with Bitwise 21Shares Canary Capital and Bitwise to create an ETF.
Although the SEC can mull over the solana ETF and XRP filings for up to 240-days, bitcoin ETFs which use option strategies may start trading earlier.
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