Many major financial institutions have reportedly filed for crypto-related exchange-traded funds (ETFs) in anticipation of U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler’s departure from office.
Increase in Crypto ETFs
Bloomberg senior ETF analyst James Seyffart, in his post on social media platform X, stated that companies such as Tidal Financial Group, ProShares, CoinShares and VanEck are applying for crypto ETFs. Seyffart stated that Tidal has applied for the digital asset debt strategy ETF (DADS) and that this ETF plans to invest in debt securities of crypto ecosystems.
ProShares has also reportedly filed for the Solana (SOL) Futures ETF and various XRP-related ETFs. CoinShares, on the other hand, aims to offer an ETF based on the CoinShares-Compass Crypto Market Index by launching the CoinShares-Digital Assets ETF.
VanEck’s New Offer
Seyffart also noted that ETF provider VanEck has applied for an “Onchain Economy ETF” focused on crypto asset instruments. It is planned that this ETF will not invest directly in digital crypto but will focus on instruments such as future contracts and digital transformation companies.
According to previous reports, Gensler is scheduled to leave his post on January 20. SEC, Coinbase, Kraken and Ripple during the Gensler period 
$3.1 It has filed lawsuits against leading crypto firms like Labs and long refrained from approving BTC-based ETFs.
“Many companies are accelerating crypto ETF filings to take advantage of the uncertainty that comes with the SEC’s leadership.” -James Seyffart.
Gensler’s departure and the new administration’s approach to crypto markets increases uncertainty about the future of regulations in the sector. Financial institutions aim to take advantage of market opportunities by completing ETF applications before this change.
The new SEC chairman’s stance on crypto assets is likely to significantly impact ETF approval processes and overall market dynamics. Therefore, investors and financial institutions are closely monitoring how the regulatory environment will be shaped.
These developments in the industry are considered an important step in the process of crypto assets being accepted as financial products. Approval of ETFs could enable crypto assets to reach broader investor bases. The move by financial institutions towards crypto ETFs is seen as a positive sign that crypto assets are gaining acceptance in a more institutional environment and becoming more widespread as investment vehicles.
Time will tell how regulatory changes and the new leader’s policies will be reflected in the crypto markets. Investors continue to take careful steps in this process.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
