Asset Managers Rush to Launch New Crypto ETFs Amid Regulatory Shift
Asset managers are racing to launch cryptocurrency exchange-traded funds (ETFs), driven by growing interest in digital assets and a shift in US regulatory policy. The US Securities and Exchange Commission (SEC) recently eased listing standards, simplifying the process for new ETFs tied to a wider range of cryptocurrencies.
These new rules are expected to increase demand for ETFs linked to coins such as solana and dogecoin, beyond the more established bitcoin and ethereum. ETFs based on bitcoin and ethereum began trading in 2024, but under more restrictive guidelines.
There are currently 21 US-listed ETFs that invest in bitcoin, ethereum, or both. In addition, many new filings have been submitted to the SEC for ETFs linked to other cryptocurrencies.
New Products Expected by October
According to industry analysts, the first ETFs approved under the updated framework could appear as early as October. These initial funds are likely to include solana and XRP.
“We’ve got about a dozen filings with the SEC now, and more are coming,” said Steven McClurg, founder of Canary Capital Group. His firm specialises in designing and launching digital asset ETFs. “We’re all preparing for a wave of launches.”
Since July, when the SEC first proposed the revised standards, firms have been working quickly to update their filings. Final amendments to several ETF proposals are expected this week, according to sources familiar with the process.
“These filings are well advanced,” said Teddy Fusaro, president of crypto asset manager Bitwise. “These are the rules we’ve been waiting for.”
The SEC has not commented publicly on the new rules.
Faster Launch Times Boost Market Opportunities
One of the biggest changes is the removal of the lengthy, case-by-case approval process. ETFs that meet set criteria can now launch in 75 days or less—down from up to 270 days previously.
Jonathan Groth, a partner at DGIM Law, described the fourth quarter of 2025 as a “boom time” for crypto ETF providers.
Grayscale Investments moved quickly, launching its Grayscale CoinDesk Crypto 5 ETF less than two days after receiving SEC approval. The ETF includes bitcoin, ethereum, XRP, solana, and cardano. CEO Peter Mintzberg said the approval reflects Grayscale’s commitment to public access, regulatory clarity, and innovation.
What Qualifies Under the New Rules?
To qualify for the fast-track approval, ETFs must meet at least one of three conditions. The coin must either:
Trade on a regulated market;
Have futures contracts regulated by the US Commodity Futures Trading Commission (CFTC) that have existed for at least six months; or
Be included in another ETF where at least 40% of the fund is directly invested in the coin itself, not in options or swaps.
The CFTC declined to comment on its involvement.
However, not all proposed ETFs meet these criteria. “Not all of our filings qualify,” said Kyle DaCruz, director of digital assets at VanEck. “Our next step is to consult our legal team and assess which funds can move forward and how soon they can enter the market.”
Questions Remain on Investor Demand
Despite the regulatory green light, there are doubts about investor appetite for ETFs tied to lesser-known cryptocurrencies.
“There will be a flood of tokens many people haven’t heard of,” DaCruz said. “Unlike bitcoin, which took years to gain traction, there will only be weeks or months to educate investors on these new coins.”
with inputs from Reuters