In recent months, there has been a significant increase in interest in cryptocurrency ETFs, with 92 products awaiting decisions from the U.S. Securities and Exchange Commission.
Current State of Crypto ETFs
Currently, there are 92 applications for cryptocurrency-related ETFs, signaling growing interest in this asset class. Notable analysts, such as Eric Balchunas from Bloomberg, point out that an additional 20 applications have been filed in the last four months.
Data on Popular Crypto Assets
Among the most sought-after crypto assets are Solana and XRP. Solana tops the list with eight ETF applications, while XRP has seven. The list also includes ETFs offering exposure to Bitcoin and Ether, and applications from 21Shares and Grayscale seeking approval for Ether-related ETFs.
BlackRock's Role in the ETF Market
BlackRock is a leading player in the crypto ETF market. Its iShares Bitcoin Trust ETF (IBIT) has attracted $58.28 billion in net inflows, while the iShares Ethereum Trust ETF (ETHA) has garnered $13.12 billion. Recent reports suggest ETHA may soon surpass Coinbase in Ethereum holdings.
Thus, with the increasing number of applications for cryptocurrency ETFs, there remains uncertainty in the market, and experts believe that the approval of new ETFs could significantly impact altcoins.
