The United States presidential election on Nov. 5 may determine the fate of more than a half dozen proposed cryptocurrency exchange-traded funds (ETFs) waiting on a green light from regulators. <\/p>\n
In 2024, asset managers submitted a flurry of regulatory filings to list ETFs holding altcoins, including Solana (SOL<\/a>), XRP (XRP<\/a>) and Litecoin (LTC<\/a>), among others. <\/p>\n Issuers are also waiting on approval for several planned crypto index ETFs designed to hold diverse baskets of tokens. <\/p>\n In effect, these filings are \u201ccall options on a Trump victory<\/a>\u201d in the US presidential race, Eric Balchunas, an ETF analyst at Bloomberg Intelligence, said on Oct. 25.<\/p>\n Three in four crypto owners said a candidate\u2019s crypto policy will impact how they vote. Source: Gemini<\/em><\/p>\n<\/figcaption><\/figure>\n The election pits Republican nominee Donald Trump \u2014 who has said he wants to make America \u201cthe crypto capital of the world\u201d \u2014 against Democrat Kamala Harris, who has been comparatively quiet on the industry.<\/p>\n Under President Joe Biden \u2014 Vice President Harris\u2019s boss \u2014 the US Securities and Exchange Commission (SEC) has taken an aggressive regulatory stance toward crypto, bringing upward of 100 regulatory actions against industry companies.<\/p>\n \u201cIf you see a Trump victory, watch this space, and if you see a Harris victory, just forget about it for a couple of years,\u201d Balchunas said during the Plan B Forum conference in Lugano, Switzerland.<\/p>\n Here\u2019s what to expect from crypto ETF issuers if Trump wins on Nov. 5. <\/p>\n BTC and ETH lead heavily in terms of market capitalization. Source: CoinGecko<\/em><\/p>\n<\/figcaption><\/figure>\n In June, fund issuers VanEck and 21Shares each filed<\/a> an S-1 to register SOL ETFs with the SEC. <\/p>\n On Oct. 30, crypto asset manager Canary Capital followed suit<\/a>, filing for a SOL ETF of its own.<\/p>\n The SEC greenlighted spot Bitcoin (BTC<\/a>) and Ether (ETH<\/a>) ETFs to list in January and July, respectively.<\/p>\n Even so, \u201cit\u2019s unlikely that the approval of ETH will result in a large wave of approvals\u201d for other types of crypto ETFs, Ophelia Snyder, co-founder and president of 21.co, told Cointelegraph in June<\/a>. 21.co is the owner of crypto ETF issuer 21Shares.<\/p>\n The SEC has repeatedly asserted<\/a> that SOL \u2014 unlike BTC and ETH \u2014 is a security, but plans for a SOL ETF listing are \u201cstill in play<\/a>,\u201d Matthew Sigel, VanEck\u2019s head of digital assets research, said in August.<\/p>\n \u201cVanEck believes SOL is a commodity, much like BTC and ETH,\u201d Sigel said. \u201cWe remain committed to advocating this position [\u2026] to the appropriate regulators.\u201d<\/p>\n Meanwhile, in October and November, Canary Capital, Bitwise and 21Shares each filed for proposed XRP ETFs. Canary Capital also filed to register<\/a> a spot LTC ETF.<\/p>\n GDLC\u2019s holdings. Source: Grayscale.<\/em><\/p>\n<\/figcaption><\/figure>\n On Oct. 29, securities exchange NYSE Arca asked the SEC for permission to list shares<\/a> of Grayscale Digital Large Cap Fund (GLDC).<\/p>\n \u201c[T]he proposed rule change, if adopted, would represent the first national securities exchange ruleset permitting the listing and trading of shares of multi-crypto asset [ETFs],\u201d Grayscale said<\/a>.<\/p>\n The fund holds a crypto index portfolio comprising BTC, ETH, SOL, XRP and Avalanche (AVAX<\/a>). <\/p>\n \u201cThe next logical step is index ETFs because indices are efficient for investors \u2014 just like how people buy the S&P 500 in an ETF. This will be the same in crypto,\u201d Tischhauser said.<\/p>\n Magazine: <\/strong><\/em>AI agents trading crypto is a hot narrative, but beware of rookie mistakes<\/strong><\/em><\/a><\/p>\n <\/div>\nAltcoin ETFs<\/h3>\n
Crypto Index ETFs<\/h3>\n