The spot ETF market is currently experiencing a surge in demand for altcoins from institutional investors. The United States Securities and Exchange Commission (SEC) has been inundated with numerous spot crypto ETF applications, with final deadlines set to begin this month.
U.S. SEC Receives More Spot Crypto ETF Applications
REX-Osprey 21 Filings
In a significant development, REX Shares, in partnership with Osprey Funds, recently filed applications with the U.S. SEC for a total of 21 spot crypto ETFs. These ETFs primarily focus on altcoins and offer staking options for coins such as NEAR, SUI, CRO, ADA, and TRX, among others.
The filing of these 21 REX-Osprey crypto ETFs marks a significant expansion of their existing applications with the U.S. SEC. If approved, these ETFs will further solidify the fund manager’s position as a major player in the spot ETF market.
Defiance ETFs
Defiance, a company specializing in crypto ETFs established in 2018, has filed nearly 50 3x leveraged ETFs, some of which include cryptocurrencies. Notable spot crypto ETF filings by Defiance include offerings for Ethereum and Bitcoin.
Generic Listings Delayed
Despite the growing interest in spot crypto ETFs, the trading of these ETFs has been delayed due to the ongoing U.S. government shutdown. The U.S. SEC missed its final deadline for the Canary Litecoin ETF on October 2 as a result of the shutdown.
Last month, the U.S. SEC requested fund managers to withdraw their Form 19b-4 submissions to expedite the approval process through generic listing standards. Analysts, led by James Seyffart, believe that the approval of spot crypto ETFs is imminent and on the horizon.
In conclusion, the increasing number of spot crypto ETF applications and the demand from institutional investors signal a growing interest in altcoins and cryptocurrencies. With the potential approval of these ETFs on the horizon, the market is poised for further growth and development in the coming months.