Trump era spurs crypto ETF applications

Crypto ETF applications have increased after Trump's re-election.

Since President Donald Trump's second term began, asset management companies have rushed to apply for new crypto exchange-traded funds (ETFs) to test a deregulated, pro-crypto regulatory environment.

Bloomberg reports that the SEC partially approved a new exchange-traded fund that gives investors exposure to Bitcoin and Ethereum this week.

The Bitwise Bitcoin and Ethereum ETF adjusts its Bitcoin and Ethereum holdings based on market prices.

New ETF registrations from VanEck and ProShares include Litecoin, XRP, and Solana. Coinbase, America's biggest crypto exchange, saw its derivatives unit apply for Solana and Hedera futures contracts.

"A Solana futures ETF will be available by mid-March," said Bloomberg ETF analyst Eric Balchunas. “But knowing spot coming soon how much demand. We'll see.”

Purpose Investments in Toronto filed to develop Canada's first XRP ETF, perhaps beating the U.S.

"As XRP adoption and institutional interest rise, we believe an ETF can offer investors a transparent and familiar way to access it within a regulated framework," said Purpose Investments CEO Som Seif.

“Canada always beats the U.S. to market (and I don't blame them; I'd take advantage of lax regulators too),” Bloomberg's Balchunas added. “When the U.S. ETFs launch, the Terrordome kicks in, and we get the same stuff for a fraction of the cost and 50-100x more liquidity.”


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