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US spot bitcoin ETFs notched combined net inflows of nearly $1 billion on Monday and Tuesday.
As for the next crypto ETFs hitting the market, some launches are imminent. As in, this week. Others will take a while longer.
Volatility Shares is set to introduce two XRP futures ETFs on Thursday — a standard one and a version that offers 2x daily exposure.
The impending launches will follow Teucrium’s XRP futures ETF launch in April. That fund has ~$120 million in assets under management. Then, CME Group this week made XRP futures available for trading — with more than $19 million in notional volume traded the first day.
But as for spot products, the SEC said in a Tuesday filing that it wants more time to consider Grayscale’s proposed XRP ETF. This comes after the SEC last week delayed its decision on the firm’s planned solana ETF.
The SEC noted in a separate filing Tuesday that it “finds it appropriate to designate a longer period” to consider allowing Bitwise’s ether ETF to stake its ETH.
Industry watchers have expected these delays on additional spot crypto funds, as we’ve seen the SEC historically take the full 240 days it’s allotted to rule on a 19b-4 of this type.
As for changes to existing ETFs (i.e. permitting staking), SEC Commissioner Hester Peirce said in February “the commission may have to make progress on custody and other issues” first.
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