Despite a bearish cryptocurrency market, ETF issuers push forward with new filings as demand for digital asset funds remains strong. The crypto ETF market is crowded, with over 140 existing funds, 10 new launches this year, and more expected. Bitcoin’s sharp price drop has led to significant losses for ETF buyers, with $1.5 billion withdrawn from Ether ETFs and over $3.5 billion from Bitcoin ETFs in the past three months. This month, Bitwise Asset Management filed for a Uniswap-linked ETF, while ProShares sought approval for leveraged Bitcoin and Ether ETFs.
21Shares also resubmitted plans for funds based on Ondo and Sei, signaling progress in its efforts. Todd Sohn, chief ETF strategist at Strategas, told Bloomberg that while firms like 21Shares and Bitwise remain committed to the long-term potential of crypto, ongoing poor performance could affect future flows.
A BNB staking ETF is expected soon. Cryptos have faced renewed pressure after October’s selloff, with Bitcoin falling sharply, dragging smaller tokens down.
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