Several institutions, including REX Shares and Osprey Funds, filed at least 21 cryptocurrency-related ETF applications with the Securities Exchange Commission (SEC), covering multiple tokens and pledged products such as SUI, BCH, and HYPE. Defiance ETFs also filed applications to track cryptocurrencies and leveraged funds from Tesla and Amazon.
The filings come against the backdrop of the SEC approving changes to the rules for listing commodity trust shares by three exchanges. The rule change exempts the relevant ETFs from the 19b-4 review process, which significantly shortens the IPO time of products. "Things are getting crazy," James Sephat, an analyst at Bloomberg Intelligence, said on social media.
Although the regulatory environment has become friendlier since President Trump took office, and some earlier ETF applications will face approval deadlines in the coming weeks, the current process has been stalled by the U.S. government shutdown that began on October 2. According to people familiar with the matter, the SEC is likely to suspend processing of cryptocurrency ETF registration declarations until the government resumes operations.
Multiple institutions submitted more than 20 cryptocurrency ETF applications on the same day
2025-10-03 22:59:40
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