Crypto ETFs Stoke Wall Street Interest as New Innovative Products Proposed to the SEC

It appears the success of the Spot Bitcoin exchange-traded funds (ETFs), which launched in early 2024 in the United States – and to a lesser extent, Spot Ethereum ETFs – have stoked the interest of Wall Street.

Several Proponents Filed for Innovative ETF Products in 2024

Several interesting financial products were proposed in filings with the U.S. Securities and Exchange Commission (SEC) at the end of 2024, seeking to capitalize on the interest in crypto strategies.

One ETF, filed by ProShares, would calculate the S&P 500's return using Bitcoin values. This innovative approach aims to provide investors with exposure to the stock market's performance, pegged to the price movements of the leading cryptocurrency.

Moreover, Strive Asset Management and REX Shares planned funds that would focus on convertible bonds from companies investing in Bitcoin. This strategy aims to track the performance of companies like MicroStrategy, which is now listed on the NASDAQ100 and has a significant portion of its treasury allocated to BTC.

Notably, several Solana and XRP ETF applications are still pending approval by the SEC, along with the much-anticipated EZPZ fund.

After being initially filed in December 2023, Franklin Templeton's crypto Index ETF, which would track the CF Institutional Digital Asset Index and offer exposure to Bitcoin and Ethereum, among others, has been delayed again. The ETF was expected to begin trading on December 30 but is now set to start trading on Monday, January 6.