YEREVAN (CoinChapter.com) — The U.S. Securities and Exchange Commission (SEC) acknowledged about six new crypto ETF filings recently. These acknowledgments appeared in filings dated Feb. 19 and 20, submitted by exchanges including Nasdaq ISE and Cboe BZX.
The proposals include crypto staking, crypto options, and altcoin ETFs. The SEC’s attention to these filings reflects an increase in activity since President Donald Trump began his second term on Jan. 20.
This development follows the launch of two crypto index ETFs earlier in February. Analysts believe more crypto ETFs will be approved throughout 2025.
Nasdaq and Cboe Submit Crypto ETF Proposals
Nasdaq ISE proposed changes involving crypto options related to BlackRock’s iShares Bitcoin Trust (IBIT). IBIT holds nearly $57 billion in assets, making it the largest crypto ETF focused on Bitcoin.
Cboe BZX filed to list crypto options on Grayscale’s and Bitwise’s Ether ETFs. While the SEC already approved options for Bitcoin ETFs, it has not yet approved them for Ether ETFs.
Additionally, Cboe requested permission to list new XRP ETFs by Canary and WisdomTree. The exchange also seeks approval for in-kind redemptions for Fidelity’s Bitcoin and Ether ETFs, and wants to allow 21Shares’ Ether ETF to use crypto staking on some of its ETH holdings.
SEC Seeks Public Comments on ETF Filings
The SEC requested public comments on several filings by Cboe BZX, especially those involving crypto staking and in-kind redemptions. The SEC has shown a growing interest in crypto staking recently.
Eleanor Terrett, a reporter from Fox Business, said on Feb. 20 that the SEC is “very, very interested” in crypto staking. According to Terrett, her source expects the SEC to issue guidance on staking soon.
In-Kind Redemptions and Their Importance
In-kind redemptions let investors exchange ETF shares for underlying assets directly. This method is known for its tax efficiency. Many ETF providers and investors prefer this approach, but the SEC has not yet approved in-kind redemptions for crypto ETFs based on spot prices.
The current filings suggest the SEC might change this stance soon.
High Approval Odds for Altcoin ETFs
Bloomberg Intelligence gives a 65% chance for the approval of an XRP ETF in the U.S. For other altcoin ETFs, approval odds are even higher: Litecoin ETFs at 90% and Solana ETFs at 70%.
On Feb․ 14, the SEC acknowledged Cboe BZX‘s request to list 21Shares’ XRP ETF, signaling possible openness to more altcoin ETFs.
Recent Launches Support Crypto ETF Market
On Feb․ 19, Coinbase launched Solana futures contracts on its regulated derivatives exchange in the U.S. Futures markets can strengthen crypto ETF applications by providing reliable pricing.
On Feb․ 20, Franklin Templeton launched an ETF combining spot Bitcoin and Ether. This is the second crypto index ETF launched in the U.S. after Hashdex introduced its Nasdaq Crypto Index US ETF (NCIQ) on Feb․ 14.
SEC Shift Under Trump and Current Changes
Under former President Joe Biden in 2024, the SEC allowed spot Bitcoin and Ether ETFs after years of delay. Other types of crypto ETFs remained restricted. However, with recent changes under Trump’s second term, the SEC appears more receptive to reviewing various crypto ETF proposals.
