Crypto ETF boom: 155 entries across 35 assets, analysts back index funds

Solana (SOL) and Bitcoin (BTC) lead the ETF registrations with 23 each, followed by XRP with 20 and Ethereum (ETH) with 16.

A flurry of new crypto fund proposals are about to hit the market, with 155 exchange-traded product applications awaiting regulatory approval.

According to industry data as of Oct. 21, this wave could introduce more than 200 new funds tracking 35 different digital assets over the next year.

The coming wave of crypto funds

Eric Balchunas, senior ETF analyst at Bloomberg shared a list of proposed funds on

The list includes popular assets such as Solana (SOL) and Bitcoin (BTC), which are currently leading with 23 entries each, closely followed by Ripple’s XRP with 20 and Ethereum (ETH) with 16.

There are also multiple uses for products tracking Litecoin (LTC) with five, Dogecoin (DOGE), Avalanche (AVAX), Polkadot (DOT) with three each, and even politically themed assets like the official TRUMP meme coin, which boasts two ETF registrations.

However, this rapid growth may pose a challenge for traditional investors. Nate Geraci, co-founder of the ETF Institute, said that the number of individual tokens could be too large to process.

“Trafi investors are absolutely unwilling to navigate all these individual tokens,” he noted.

He says most mainstream investors will likely prefer a “shotgun approach,” meaning using diversified funds that spread risk across many cryptocurrencies, similar to a stock index fund.

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“*Very optimistic* about index-based and actively managed crypto ETFs,” the expert tweeted.

A shift in strategy and strong current demand

This push for more variety comes at a time when the first batch of crypto ETFs shows that the market is healthy. On October 21, spot Bitcoin ETFs brought in $477 million in new investments, and spot Ethereum products brought in $142 million, according to data from SoSoValue.

Meanwhile, some newly launched altcoin ETFs are already showing encouraging results. The REX-Osprey XRP and DOGE ETFs, which debuted in September, posted impressive first-day volumes of $24 million and $6 million, respectively, easily exceeding analyst expectations.

The renewed interest in crypto ETFs also comes at a time when many major Bitcoin investors are pouring their money into such products. These whales are reportedly using a process that allows them to exchange their actual Bitcoin for shares in an ETF without incurring a tax bill. BlackRock is said to have handled more than $3 billion of these conversions.

While the pipeline is full, it is still unclear when many of these new funds will receive final approval, with external factors such as the ongoing US government shutdown causing delays.