USDCrypto ETF Shake-Up: NYSE, Hashdex, Osprey, and More Drive Big Changes
NYSE Proposes Rule Change to Allow Ether Staking in Grayscale's Spot ETFs
The NYSE has filed a proposal with the SEC on behalf of Grayscale to allow staking in its spot Ethereum ETFs, specifically the Grayscale Ethereum Trust ETF (ETHE) and the Grayscale Ethereum Mini Trust ETF (ETH). If approved, this would enable Grayscale to stake Ether, potentially earning staking rewards as income for the funds.
However, Grayscale clarifies it will not guarantee specific returns to investors. The proposed changes aim to enhance the ETFs' efficiency in creation and redemption processes while beneficially tracking returns. The estimated staking reward rate for Ether is currently 2.06%. This proposal follows a similar initiative from 21Shares, which previously adjusted its staking plans after the SEC initially restricted staking rewards in ETFs. There is speculation that the SEC may adopt a more favorable stance on crypto-related staking under a future Trump administration.
Hashdex Launches Nasdaq Crypto ETF, Offering Bitcoin and Ethereum Exposure
Hashdex has launched the Hashdex Nasdaq Crypto Index US ETF (NCIQ), which offers U.S. investors exposure to both bitcoin (BTC) and ethereum (ETH) through a single exchange-traded fund. Trading under the ticker NCIQ on Nasdaq since February 14, 2025, the ETF tracks the Nasdaq Crypto US Index (NCIUS), which focuses solely on bitcoin and ethereum. The NCIQ features a 0.25% annual management fee for 2025, rising to 0.50% thereafter. With the combined market value of BTC and ETH exceeding $2.3 trillion, this ETF is notable as the first U.S.-listed multi-asset crypto exchange-traded product (ETP).
Hashdex's CEO highlighted that the ETF simplifies access for investors, eliminating the need to buy coins or use single-asset products. Backed by custodians like Coinbase Custody and Bitgo Trust, the launch aligns with the increasing demand for crypto ETFs in the U.S., with sector assets surpassing $120 billion.
Osprey Funds Seeks SEC Approval to Convert Bitcoin Trust to ETF for Lower Fees and Enhanced Liquidity
Osprey Funds is seeking approval from the SEC to convert its Osprey Bitcoin Trust (OBTC) into an exchange-traded fund (ETF), aiming to enhance liquidity and reduce fees for investors. This initiative follows the unsuccessful termination of a deal to transfer OBTC’s assets to Bitwise's ETF after lacking regulatory approval. Currently, OBTC, which tracks Bitcoin prices via the Coin Metrics CMBI Bitcoin Index, has $181 million in assets under management as of January 2025.
Despite a rise in OBTC's unit price over the past year, it remains below its original peak. Osprey CEO Greg King believes that ETF conversion is the most secure path for their Bitcoin investment offerings. Simultaneously, Osprey is engaged in a lawsuit against Grayscale, alleging misleading advertising related to Grayscale's own trust-to-ETF conversion efforts. The proposed ETF structure could broaden accessibility and potentially lower investor fees significantly.
SEC Considers 21Shares' Ethereum ETF Staking Proposal Amid Declining Transaction Fees
The SEC has acknowledged a filing from Cboe BZX Exchange on behalf of 21Shares, potentially allowing staking for its Ethereum ETF, marking a significant shift in crypto regulation. This follows a notable decline in Ethereum transaction fees, which dropped to $0.77, reflecting a 70% decrease due to reduced on-chain activity. If approved, the 21Shares Core Ethereum ETF could generate additional yield through staking without third-party delegation, as the staked ETH will remain the exclusive property of the ETF trust.
This proposal aligns with evolving regulatory attitudes under the Trump administration, diverging from previous SEC positions that treated proof-of-stake tokens as securities. The SEC has established a crypto task force to evaluate digital asset classifications, signaling a broader reassessment of staking regulations. The pending approval could enhance Ethereum ETFs' attractiveness by enabling investors to benefit from both staked rewards and ETH price movements.
SEC Acknowledges CoinShares’ XRP and Litecoin ETF, and Bitwise's Spot XRP ETF Filings
The U.S. Securities and Exchange Commission (SEC) has accepted CoinShares’ filings to list exchange-traded funds (ETFs) for XRP and Litecoin, a move that underscores the growing institutional regulation of cryptocurrencies. This process allows CoinShares to offer these ETFs on the Nasdaq platform and invites public comments within 21 days of the publication in the Federal Register. The SEC will then determine whether to approve or reject the filings.
Meanwhile, the SEC also acknowledged Bitwise's spot XRP ETF filing via Cboe BZX Exchange, starting the approval process. Comments are due 21 days post-publication in the Federal Register. This follows earlier filings from 21Shares and Grayscale, amidst a surge in crypto ETF applications due to a supportive regulatory environment under the Trump administration.
Hashdex Launches World's First XRP Spot ETF in Brazil
Hashdex has received approval from the Brazilian Securities and Exchange Commission to launch the world’s first XRP spot ETF, the HASHDEX NASDAQ XRP INDEX FUND, currently in its pre-launch phase. This marks a significant milestone for Brazil’s financial sector and the cryptocurrency market. The listing date on Brazil's stock exchange, B3, has not been announced yet, and the fund will be administered by Genial Investimentos.
This development positions Brazil as a leader in digital asset investments, while similar U.S. XRP ETF proposals await regulatory approval. Analysts predict U.S. XRP ETFs could attract $3 billion to $6 billion in investments. Silvio Pegado, Ripple’s General Manager for Latin America, emphasized XRP's suitability for ETFs due to its utility and market demand. With a substantial increase in cryptocurrency usage and an estimated $90.3 billion in crypto transactions from July 2023 to June 2024, Brazil is emerging as Latin America’s second-largest crypto market.
Grayscale's XRP ETF Filing Hits SEC Federal Register, Approval Decision by October 18
Grayscale's filing for an XRP exchange-traded fund (ETF) has officially entered the U.S. Securities and Exchange Commission’s Federal Register, initiating a 21-day comment period before a decision is expected by October 18, 2025. If approved, this ETF would offer a regulated investment vehicle for XRP, which has recently surged over 381% in the past year, currently priced at $2.66 despite a 1% drop on the day. The SEC has also acknowledged several other crypto ETF filings, including from CoinShares and others.
The growing interest in crypto ETFs reflects a potential shift in regulatory attitudes under Acting Chair Mark Uyeda, with industry experts believing approvals could enhance institutional access to digital assets, consequently impacting their market value significantly. Initiatives like Brazil's Hashdex Nasdaq XRP Index Fund further highlight the global demand for cryptocurrency investments. The outcome of these proposals could set transformative precedents for the broader crypto ecosystem.
Franklin Templeton Launches Spot Bitcoin and Ethereum Combo ETF, EZPZ
Franklin Templeton has launched its spot Bitcoin and Ethereum combo ETF, named the Franklin Crypto Index ETF (EZPZ), on the Cboe BZX exchange. This launch follows Hashdex’s ETF debut and comes after SEC approval in December 2024. The fund aims to provide exposure to Bitcoin (82%) and Ethereum (18%) in a market cap-weighted manner, with potential for future cryptocurrencies pending regulatory approval. EZPZ has a low sponsor fee of 0.19%, waived until August 2025, and is custodied by Coinbase.
Franklin Templeton's EZPZ is their third digital asset ETF, after the EZBC and EZET, which have attracted $443.8 million and $33 million in assets under management respectively. The launch signals increasing institutional interest in digital assets, with an emphasis on blockchain's role in solving real-world problems and supporting future economies. Analysts describe the ETF as a convenient investment option in the growing crypto space.
This article has been refined and enhanced by ChatGPT.
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