21 New Crypto ETFs Filed for Altcoins Beyond Bitcoin and Ethereum
REX Shares and Osprey Funds have filed for 21 single-asset crypto exchange-traded funds (ETFs) with the U.S. Securities and Exchange Commission (SEC). The proposed ETFs cater to institutional investors seeking exposure to altcoins beyond Bitcoin and Ethereum.
The applications span a range of tokens, including Cardano (ADA), Stellar (XLM), Sui (SUI), and Hype (HYPE). Most of these ETFs are structured as staked products, offering investors rewards for locking up their assets and benefiting from market performance.
Hardware security modules (HSMs) will be deployed to secure private keys and assets, reducing the risk of unauthorized withdrawals. At least 40% of assets could be invested in non-U.S. exchange-traded products, such as ETPs listed in Europe or Canada, to diversify the portfolio. The funds will use Cayman Islands subsidiaries to comply with U.S. tax and regulatory requirements.
The SEC has 75 days to review the paperwork and make a decision on the crypto ETFs. If approved, these products would allow institutions to gain exposure to altcoins through traditional exchanges. The reference companies mentioned for these crypto ETFs are Grayscale and Bitwise.
The filing of these multi-coin crypto ETFs reflects investors' desire for a broader range of digital assets. If approved, they will provide institutions with a new avenue to access the crypto market, potentially driving further growth and adoption.
