Bitcoin
Pearl
Starknet
Zerebro
NEAR Protocol
Solana
Quantus
Key Insights:
- The number of crypto ETF applications in the US has jumped to 92.
- The most popular of these funds is on Solana and XRP.
- US SEC may approve several ETFs by the end of the year.
Crypto ETF filings have surged in 2025, signaling growing institutional interest. This wave of applications could act as a significant catalyst for the industry.
The fourth quarter is especially crucial as the SEC finalizes its review. Investors are watching closely for approvals that could reshape the crypto landscape.
Crypto ETF Filings are Rising on Wall Street
In a recent X post, Bloomberg Intelligence’s James Seyffart shared new data on crypto ETFs. He revealed that 92 crypto ETF applications have been filed in the U.S. this year. This surge reflects growing momentum and institutional interest in the crypto investment space.
XRP has received the most applications so far, with 11. Franklin Templeton has over $1.6 Trillion in assets and has filed for a spot XRP ETF. Other firms are Invesco, VanEck, and Grayscale.
Solana has also received substantial ETF applications from companies like Grayscale, Canary, and 21Shares. Ethereum has also received more applications.
Companies like 21Shares and Grayscale have filed for funds with staking features, Binance Coin, Cardano, and Chainlink. Companies such as Dogecoin, Official Trump, Melania, and Bonk have also filed for meme coin ETFs.
Crypto ETF Filings Have Jumped as Demand Rises
Companies are filing numerous crypto ETF applications this year. Strong demand from American investors is driving this surge. A good example is Bitcoin, whose spot ETFs have attracted over $54 billion in assets since January last year.
These funds now hold Bitcoins worth over $144 Billion, equivalent to 6.5% of the total supply. The iShares Bitcoin Trust (IBIT) has over $83 Billion in assets. It has become the eighth biggest fund of the company.
Spot Ethereum ETFs have also done well and attracted $13.6 billion in assets since July last year. These funds now hold $29.5 Billion, equivalent to 5.4% of its market capitalization.
The SEC has already approved some futures-based ETFs. Even that data shows they see strong demand a few months after their approval. The REX-Osprey SOL + Staking ETF (SSK). It was launched in July and now has nearly $200 Million in assets.
Similarly, the Teucrium 2x Long XRP ETF (XXRP) has $387 million in assets. Another key driver of the crypto ETF goldrush is profitability. These funds often carry higher fees, making them lucrative for their sponsors.
A good example is BlackRock’s IBIT ETF, which has $83 Billion in assets and an expense ratio of 0.25%. This means that the fund will make over $207 Million a year, all factors constant.
The iShares S&P 500 ETF (IVV) manages around $665 Billion in assets. With an expense ratio of just 0.03%, it still generates $199 Million annually. This highlights how even low-fee ETFs can be highly profitable at scale.
Crypto-Friendly SEC has Contributed to the Boom
The other main reason crypto ETFs are rising is that the Donald Trump administration is the most friendly to the industry annually. Trump appointed Paul Atkins, a pro-crypto lawyer, as the SEC chair.
Unlike Gary Gensler, Atkins highly supports the crypto industry, which he defended in private practice. He is expected to approve ETFs that Gensler would have rejected because he viewed them as securities.
Politicians in Washington have also been supportive of the crypto industry. They recently approved the GENIUS Act, which focuses on stablecoins, and are now considering the CLARITY Act.
Cryptocurrencies have become a significant asset in class with a market capitalization of nearly $4 Trillion. This growth also partially explains why more companies have continued to apply for crypto ETFs.
Once approved, most tokens, especially XRP and Solana, will likely attract strong inflows, boosting their prices. However, the SEC will likely reject some ETFs after the public hearing period ends. Those at risk are those tracking meme coins like TRUMP and MELANIA.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
