Gensler’s recent release has sparked a wave of crypto ETF submissions
A few days before Gary Gensler stepped down as chairman on January 20, the cryptocurrency exchange-traded fund (ETF) filings arrived at the Securities and Exchange Commission (SEC).
As of January 17, at least four proposals have been made as the crypto industry anticipates regulatory shifts under the incoming Trump administration.
ProShares, known for launching the first Bitcoin-linked ETF, has filed for Solana Futures ETF. The Solana Futures ETF is designed to give investors exposure to the price movement of Solana's native cryptocurrency SOL (SOL) through futures contracts rather than direct ownership of the asset.
“Wonderful because there are no CME futures yet and I'm not sure if Coinbase SOL futures are large and liquid enough,” ETF analyst James Seifert posted on X.
Volatility Shares, another asset manager, filed a similar application in December.
Seifert, on Jan. 16, Solana EFF may not launch in the United States until 2026, despite the White House.
Related: Bitcoin Saves Interest Gains Across 5 Continents
CoinShares, Proshares and others, filing for ETFs
On January 17, CoinShares, the former Valkyrie Funds and digital asset manager, also introduced the “CoinShares Digital Asset ETF”, which tracks the proprietary Compass Crypto Market Index.
Meanwhile, ProShares has provided documentation for leveraged, inverse and futures ETFs tied to XRP. Investment firms such as Bitwise, Canary Capital, 21Shares and WisdomTree have already filed XRP ETF proposals.
Tidal DeFi, an asset management firm focused on decentralized finance, has filed for Oasis Capital's Digital Asset Debt Strategy ETF (DADS). The fund plans to invest in debt instruments related to companies in the crypto ecosystem, including miners, utilities, energy firms and payment platforms.
Earlier this week, asset manager VanEck filed an application with the SEC on Jan. 15 for an “Onchain Economy” ETF. According to the filing, the fund aims to invest in crypto-focused companies, including software developers, mining companies, exchanges, infrastructure builders, payment providers and other businesses in the cryptocurrency sector.
Nate Gerasi, president of ETF Repository, mentioned the importance of these documents.
Source: Nate Gerasi
Related: Gary Gensler said the presidential election was not about crypto money
Gensler's exit is presented
Gensler's tenure, which began in April 2021, has seen a crackdown on high-profile lawsuits against Coinbase and Binance, as well as unregistered securities offerings. The last working day is January 20.
Eric Balchunas, AFF's senior analyst, commented on the record explosion.
“Gensler hadn't even been out of the building for five minutes, and the ETF industry had downloaded a huge crypto file upset. Half a dozen so far.”
Earlier this week, SEC Chief of Staff Amanda Fisher announced her resignation and Internal Revenue Service's Daniel Werfel is expected to step down on Trump's inauguration.
Magazine: Godzilla vs. Kong: The SEC faces a tough battle with crypto legal firepower
