40+ cryptocurrency ETFs pending U.S. regulatory approval

Fund managers appear to have been scrambling to meet investor demand as major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) swirl around record prices. According to the Bloomberg Terminal screenshot To take by Bloomberg Intelligence analyst James Seyffart, more than 40 exchange-traded cryptocurrency funds or ETFs are currently waiting to be listed in the United States.

The source pointed out that four companies have been approved by the Securities Exchange Commission (SEC). The most notable of these is the Ark 21Shares Bitcoin ETF, which was created in a joint effort between 21 Shares and ARK Invest.

The latest fund applications were received from AXS Investments on October 27th. These are the AXS Bitcoin Strategy ETF or the AXS Short Bitcoin Strategy ETF. The majority of funds waiting to be listed are trying to buy BTC directly or its futures and derivatives contracts. Some funds have a hybrid strategy and only invest part of their assets in BTC, while the rest is put into US blockchain stocks or shares. However, there are also three funds that focus on helping ETH to perform well. These are VanEck Ethereum Trust, Wisdomtree Ethereum Trust and Kryptcoin Ethereum Trust. All three were submitted earlier this year and are currently awaiting approval.

It took the SEC eight years to license such financial products in the United States, and they became very popular with investors. Earlier this month, the Proshares Bitcoin Strategy ETF became the first crypto ETF to be listed in the country. At the time of publication, the fund’s total assets under management exceeded $ 2 billion.

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