Several financial giants are reportedly filing for crypto-related exchange-traded funds (ETFs) as they anticipate the departure of Gary Gensler, the chair of the U.S. Securities and Exchange Commission (SEC).
In a new thread on the social media platform X, Bloomberg senior ETF analyst James Seyffart reports that a “flurry” of companies are filing for crypto ETFs, including Tidal Financial Group, ProShares, Coinshares and VanEck.
Seyffart notes that Tidal is filing for its Oasis Capital Digital Asset Debt Strategy ETF (DADS), which plans to invest in the debt securities of crypto ecosystems.
He also reports that ProShares has filed for a Solana (SOL) Futures ETF and several XRP-related ETFs while CoinShares has filed to launch the CoinShares Digital Assets ETF, which will be based on its CoinShares-Compass Crypto Market Index.
Seyffart goes on to say that ETF provider VanEck has applied to launch its “Onchain Economy ETF,” which will not invest in digital assets themselves but instead will focus on digital asset instruments, such as futures contracts and digital transformation companies.
According to previous reports, Gensler is stepping down from his position on January 20th before President-elect Donald Trump is inaugurated for his second term.
Under the helm of Gensler, the SEC filed numerous high-profile lawsuits against prominent crypto firms such as Coinbase, Kraken and Ripple Labs and didn’t approve the launch of the Bitcoin (BTC)-based ETFs until compelled to do so by a court.
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