155 Crypto ETF Applications Await Approval in the US, Led by Bitcoin and Solana

According to Jinse Finance, citing Bloomberg, as of October 20, there have been 155 cryptocurrency-based Exchange Traded Product (ETP) applications in the United States, covering 35 digital assets. Among them, Bitcoin and Solana each have 23 applications, XRP has 20, and Ethereum has 16. Although the approval process was delayed by the U.S. government shutdown that began on October 1, industry experts remain optimistic that approval is imminent. Recently, issuers have actively submitted 2x and 3x leveraged ETFs as well as products with staking mechanisms, reflecting a “land grab” trend in the crypto ETF market. Analysts point out that investors prefer to diversify their investments in emerging digital assets through index and actively managed ETFs, rather than single tokens. Since the launch of spot Bitcoin and Ethereum ETFs in January and July 2024, BTC ETF assets under management have reached nearly $150 billions, while ETH ETF assets are about $24 billions.