92 crypto-related ETPs in the works: ‘Floodgates to open soon’

There are at least 92 crypto exchange-traded products awaiting a decision from the US Securities and Exchange Commission. 

Solana () and XRP () are the most sought-after crypto assets, with SOL having eight ETF applications pending and XRP having seven, to new data from Bloomberg Intelligence’s ETF analyst James Seyffart.

Eric Balchunas, Bloomberg’s Senior ETF Analyst, on April 21 that 72 crypto-related ETFs were pending with the SEC, meaning another 20 ETFs have been filed in the past four months.

Three pending ETFs propose to offer exposure to Bitcoin () and Ether (), while the rest target other altcoins. 

The list also includes 21Shares and Grayscale, which are seeking to get approval for their Ether staking ETFs. Earlier this month, the SEC

Meanwhile, Grayscale is looking to convert five of its trusts into ETFs, which include three publicly traded funds and two privately traded funds. The conversion includes funds that offer exposure to Litecoin, Solana, Dogecoin, XRP and Avalanche.

“Look at all the crypto ETF filings out there… What I mean by ‘crypto ETF floodgates about to open soon.’” NovaDius Wealth Management president Nate Geraci .

On Monday, analysts at Bitfinex noted that .

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Global asset manager BlackRock currently dominates the crypto ETF category.

Its Bitcoin fund, iShares Bitcoin Trust ETF (IBIT), has witnessed a net inflow of since its inception, while its Ethereum fund, iShares Ethereum Trust ETF (ETHA), has seen a net inflow of since its inception, according to Farside Investors.

A Wednesday report indicates that ETHA as the largest holder of ETH.

Meanwhile, its IBIT fund now holds .

Notably, BlackRock from its IBIT fund than its flagship S&P fund (IVV), iShares Core S&P 500 ETF, as IBIT’s expense ratio stands at 0.25%, while IVV’s expense ratio is much lower at 0.03%.

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