Crypto ETF Filers Hard at Work for the Holidays
As 2024 approaches, fund issuers are actively working on plans for crypto ETFs expected to launch in 2025. Recently, Bitwise filed for a Bitcoin Standard Corporations ETF that would invest in companies holding at least 1,000 BTC. Strive Asset Management also recently filed for a Bitcoin Bond ETF, targeting convertible securities in companies likely to invest significant proceeds back into BTC. Meanwhile, REX Advisers has proposed a Bitcoin Corporate Treasury Convertible Bond ETF, focusing on convertible bonds from major crypto asset holders. ProShares is looking to introduce three bitcoin-related funds, including an S&P 500 Bitcoin ETF that combines positions in S&P 500 stocks with bitcoin futures to hedge against US dollar exposure. Another interesting concept is by Volatility Shares, which has filed for an ETF investing in solana futures contracts, although such contracts currently do not exist. The SEC's stance on approving these ETFs remains uncertain as it necessitates a regulated futures market, which is currently established only for BTC and ETH. As surveyed, ETF issuers are relentless in their pursuit of new opportunities despite regulatory hurdles.
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