Trump era ushers in wave of crypto ETF applications

President Donald Trump’s second term has set in motion a surge of applications for new crypto exchange-traded funds (ETFs), as asset management firms hurry to test the possibility a more favorable, deregulated, and pro-crypto regulatory landscape.

This week, the U.S. Securities and Exchange Commission (SEC) gave a partial green light to a new exchange-traded fund offering investors a way to gain joint exposure to Bitcoin and Ethereum in a single investment vehicle, according to Bloomberg .

The combination product, known as the Bitwise Bitcoin and Ethereum ETF, will adjust the amount of Bitcoin or Ethereum in the fund depending on the respective cryptocurrency’s current market values.

Additionally, VanEck and ProShares recently submitted filings for Litecoin, XRP, and Solana ETFs. Similarly, America’s largest crypto exchange, Coinbase, recently saw its derivatives subsidiary file applications for futures contracts related to Solana and Hedera.

"We [will] see a Solana futures ETF on [the] market as early as mid-March,” said Bloomberg ETF analyst Eric Balchunas. “But.. knowing spot coming soon how much demand would there be. I guess we’ll find out.”

Meanwhile, in Canada, the Toronto-based Purpose Investments submitted filings to launch the country’s first XRP ETF, potentially beating the U.S. in launching the fund.

"As XRP sees increasing adoption and institutional interest, 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),” said Bloomberg’s Balchunas. “However, when the U.S. ETFs finally launch, the Terrordome kicks in, we end up with the same stuff, but for a fraction of the cost and 50-100x more liquidity.”