Trump’s Return & Gensler’s Exit Sparks Row Of Crypto ETF Filing

• Trump’s upcoming inauguration ceremony and Gensler’s resignation have enabled a flood of crypto ETF filings.
• Many notable firms joined this fray and made their submissions.

President-elect Donald Trump’s swearing-in ceremony is just one day ahead. With him taking office & current SEC Chair Gary Gensler leaving, the crypto community is looking forward to the industry’s golden age.

They are hopeful of the positive look of the upcoming administration towards digital assets. They also anticipate removing the harsh regulations that Gary has put in place, especially regarding crypto ETF filing.

The effect of their positive thinking has started to manifest now. The crypto world witnessed a wave of crypto ETF submissions just days before the Inauguration & US SEC chair Gensler’s resignation. That would be effective from January 20th, 2025.

Spike in Crypto ETF Filings

Nate Geraci is the President of The ETF Institute. It is the only independent body that provides ETF certification, education, and training for financial advisers and industry experts.

He most recently posted on X on January 18th, 2025. He highlighted several crypto ETF enrollments during the previous 48 hours in that essay. Geraci also discussed the amendments, noting “Regulatory winds shifting.”

He named the primary companies driving the ETF submission revolution. These include CoinShares, ProShares, Oasis Capital, VanEck, and Canary Capital.

On January 15th, VanEck filed for a crypto ETF. The asset management firm submitted an application to the US SEC for an “Onchain Economy” ETF.

Instead of investing directly in cryptocurrencies, this fund aims to invest primarily in businesses and goods related to the crypto industry. Per application, “Digital Transformation Companies” and “Digital Asset Instruments” will each receive at least 80% of the fund’s net assets.

Digital transformation companies engage in various industries, including cryptocurrency exchanges, payment gateways, and mining. Companies with significant crypto holdings or profit from digital asset projects may also fall into this category.

Financial goods are known as “digital asset instruments.” This applies to options, commodity futures, and other exchange-traded goods.

Other Notable Firms that Applied for Crypto ETF

Following VanEck’s submission, Nasdaq filed a revised Form 19b-4 for Canary Capital’s **Litecoin ETF** on Wednesday, January 15. The company applied for Canary Litecoin ETF authorization in October.

The current change formally puts the US SEC on notice to decide. On January 17th, four more proposals for the crypto ETF were submitted. One of the most notable submissions was by Tidel Finance, which introduced the Oasis Capital Digital Asset Debt Strategy ETF.

Similar to VanEck’s proposal, this fund from Tidel Finance focuses on investing in debt instruments issued by cryptocurrency businesses. Additionally, ProShares applied to futures, leveraged, and inverse ETFs in addition to the Solana & XRP Futures ETF.

ProShares is known for introducing the first Bitcoin-linked ETF. CoinShares, like ProShares, joined the party and filed for the “CoinShares Digital Asset ETF.” The fund tracks the CoinShares-Compass Crypto Market Index, which comprises ten cryptocurrencies.

Community Reaction Over Gensler’s Exit

Gensler’s exit from the US SEC has greatly relieved the Crypto ETF market. Crypto enthusiasts & Industry leaders celebrate his resignation across all Social media platforms by leaps and bounds.

Eric Balchunas, senior ETF analyst for Bloomberg, also drank a toast to Gensler’s exit and posted on X. In his post on January 18th, he wrote, “Gensler wasn’t even out of the building for 5 minutes, and the ETF industry unloaded a massive crypto filing frenzy. Half a dozen so far.”

Another X user, Chad Steingraber, posted,” They waited until the end of business day on the last of the Biden SEC to start filing crypto ETFs…”

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.