Crypto ETF Frenzy Marks SEC Transition Ahead of Trump Administration

As SEC Chair Gary Gensler’s term nears its end on January 20, a wave of crypto-focused ETF applications has flooded the regulatory body.

This sudden surge reflects industry anticipation of a potentially more crypto-friendly regulatory approach under President-elect Donald Trump’s administration.

On January 17, several firms made significant filings, including ProShares, which submitted a proposal for a Solana Futures ETF. This fund would allow investors to gain exposure to Solana’s price movements through futures contracts rather than direct holdings. Despite its potential, some experts, such as ETF analyst James Seyffart, raised concerns about the liquidity of Solana futures, suggesting such ETFs may not become viable in the U.S. until 2026.

CoinShares also filed for a new ETF that tracks its proprietary Compass Crypto Market Index, while ProShares expanded its filings to include leveraged and inverse ETFs linked to XRP. Other companies, including Bitwise and WisdomTree, joined the rush with spot XRP ETF applications. Tidal DeFi proposed a different approach, with a fund aimed at debt instruments tied to crypto ecosystem companies, including miners and payment providers.

Earlier in the week, VanEck submitted its “Onchain Economy” ETF proposal, designed to invest in a wide range of cryptocurrency-related firms, from infrastructure builders to exchanges. This diverse wave of filings signals how asset managers are positioning themselves ahead of what could be a pivotal shift in U.S. crypto regulation.