72 US Crypto ETFs Await SEC Approval as Institutional Interest Grows

Highlights:

• 72 crypto ETF filings include memecoins, altcoins, and a leveraged Melania token.
• More than 80% of institutions aim to boost their cryptocurrency investments in 2025.
• Bitcoin ETFs expected to dominate with 80–85% market share despite new listings.

According to Bloomberg senior ETF analyst Eric Balchunas, 72 cryptocurrency-focused exchange-traded funds (ETFs) are currently awaiting approval from the United States Securities and Exchange Commission (SEC) as of April 21. The list of ETFs includes a diverse mix of tokens, ranging from Ripple (XRP), Litecoin, and Solana to Dogecoin, Penguins, and even a 2x leveraged Melania token. Considering the large number of filings, Balchunas predicted a “wild year” for the crypto market.

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There are now 72 crypto-related ETFs sitting with the SEC awaiting approval to list or list options. Everything from XRP, Litecoin and Solana to Penguins, Doge and 2x Melania and everything in between. Gonna be a wild year. Great roundup from @JSeyff pic.twitter.com/IHTqqxeH35

— Eric Balchunas (@EricBalchunas) April 21, 2025

Institutional Optimism Grows as Crypto ETF Listings Expand, But Adoption Uncertain

Issuers also want permission to offer options trading on crypto ETFs. These mainly include funds linked to Bitcoin (BTC) and Ethereum (ETH). The upcoming ETF listings reflect growing optimism among institutional investors toward crypto as an asset class. 

A March report from Coinbase and EY-Parthenon shows that over 80% of institutions plan to raise their crypto investments in 2025. Still, analysts warn that approval for U.S. listings doesn’t necessarily mean these ETFs—especially those tied to lesser-known altcoins—will see strong adoption. Balchunas drew a comparison between ETF approval and a band being featured on top music streaming platforms.

He said:

“Having your coin get ETF-ized is like being in a band and getting your songs added to all the music streaming services. Doesn’t guarantee listens but it puts your music where the vast majority of the listeners are.”

The filings include a variety of strategies, extending beyond conventional spot ETFs. Issuers such as Tuttle Capital and ProShares have introduced leveraged, inverse, and thematic products. These are targeted at speculative traders and those seeking specific exposure to crypto price fluctuations.

ETFs are making crypto access easier for both retail and institutional investors. They hold the assets on behalf of investors and follow strict custody rules.

New SEC Head May Reshape Crypto Rules, But Bitcoin Stays in Lead

The Senate confirmed Atkins two weeks ago as President Donald Trump’s choice to lead the Securities and Exchange Commission. His swearing-in ceremony will happen soon. This will mark the start of the SEC’s efforts to regulate crypto under new leadership.

Atkins supported deregulation during his previous time at the SEC. Analysts believe that the crypto-friendly veteran may need to make new and important decisions moving forward. One of these decisions includes determining which cryptocurrencies can be approved for listings as commodity-based trusts.

Balchunas states that Bitcoin ETFs currently make up around 90% of global crypto fund assets. Although many new products are being introduced, Bitcoin is expected to retain a dominant share, likely between 80% and 85% in the long run. This highlights Bitcoin’s strong role as the main gateway for institutions entering the crypto space. Even with more ETFs in the pipeline, the market is likely to remain focused on Bitcoin.

No Second Best? Bitcoin ETFs command 90% of all the crypto fund assets globally. While a TON of alt/meme coin ETFs are likely going to hit market this year, they will only make minor dent, bitcoin likely to retain at least 80-85% share long-term via @JSeyff pic.twitter.com/ym46sDFM8C

— Eric Balchunas (@EricBalchunas) April 21, 2025

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