A surge of cryptocurrency exchange-traded fund (ETF) applications flooded the U.S. Securities and Exchange Commission (SEC) just days before SEC Chair Gary Gensler’s departure on Jan. 20. The move signals a potential regulatory shift with the incoming Trump administration, expected to adopt a more crypto-friendly stance.

On Jan. 17 alone, ProShares, a leading asset manager, filed for a Solana Futures ETF, designed to track Solana’s price movements through futures contracts. Notably, Solana futures lack established liquidity on major platforms, leading to skepticism about the proposal’s viability.

Other players joined the fray. CoinShares submitted an application for the “CoinShares Digital Asset ETF,” aiming to track its proprietary Compass Crypto Market Index. ProShares also filed for leveraged and futures ETFs tied to XRP, alongside investment firms like Bitwise, WisdomTree, and 21Shares, which have proposed spot XRP ETFs.

Tidal DeFi introduced its Oasis Capital Digital Asset Debt Strategy ETF, intending to invest in crypto-related debt instruments across sectors like mining, energy, and payment platforms. Earlier, VanEck proposed its “Onchain Economy” ETF on Jan. 15, targeting a broad range of crypto-focused firms, from software developers to exchanges.

Industry experts noted the timing of these filings. Eric Balchunas, a senior ETF analyst, remarked, “Gensler wasn’t even out of the building for five minutes, and the ETF industry unloaded a massive crypto filing frenzy.”

Gensler’s tenure, marked by lawsuits against major platforms like Coinbase and Binance, has been contentious. His exit, alongside other key resignations, is seen as a turning point for the crypto industry, potentially easing regulatory barriers for digital asset innovation.