Traders and investors have been waiting patiently for altcoin ETFs to hit the market, as the government shutdown has slowed the review process. But that hasn’t stopped issuers from slowing down their filings.
As of Oct. 20, there are now 155 cryptocurrency-based exchange-traded product filings tracking 35 different digital assets, according to Bloomberg. Leading the list are Solana- and Bitcoin-based proposals at 23 apiece, followed by XRP (20) and Ethereum (16).
The U.S. government shutdown that began on Oct. 1 has slowed the review process, but experts remain optimistic that approval is imminent. “Could easily end up seeing over 200 hit mkt in next 12mo. Total land rush,” Bloomberg Senior ETF analyst Eric Balchunas said on X.
In recent weeks, issuers have flooded the zone with proposals for 2x and 3x leveraged ETFs, among others, as well as other products with staking components. This came after the U.S. Securities and Exchange Commission approved listing standards proposed by three exchanges, asking the agency to change a rule governing the trading and listing of commodity-based trust shares, which sets out requirements to have certain shares listed on their exchanges.
Of note, many of these filings offer some “variation of bitcoin exposures,” like leveraged ETPs or covered call strategies, where an investor holds a long position in an asset and sells call options, Bloomberg’s James Seyffart said on X.
Unless the SEC gave staff guidance to hustle certain short-term items across the finish line, “the expectation is that the SEC is not working on crypto ETFs’ registration statements until the government reopens,” sources previously told The Block. Analysts said earlier this month that Litecoin, HBAR, and more crypto ETFs are “at the goal line.”
Regarding the over 150 proposals, one expert is “highly bullish” on index-based and actively managed crypto ETFs.
“No way tradfi investors ready to navigate all of these single tokens,” NovaDius Wealth Management President Nate Geraci said Tuesday on X. “They’re going to take a diversified, shotgun approach to an emerging asset class. Seems obvious.”
Spot Bitcoin and Ethereum ETFs went live in January and July of 2024, respectively. BTC ETFs have generated nearly $150 billion in AUM, while ETH ETFs sit at around $24 billion according to The Block’s data dashboard.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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