USDCrypto Funds Weekly Recap: XRP, DOGE ETFs Delayed as BTC ETFs Grow
SEC Delays Decisions on XRP and Dogecoin ETFs Until June 2025
The U.S. Securities and Exchange Commission (SEC) has announced delays in its decisions regarding crypto exchange-traded funds (ETFs) for XRP and Dogecoin. The SEC will wait until June 15 and June 17, 2025, respectively, to decide on the Bitwise Dogecoin ETF and the Franklin XRP Fund. This decision comes amidst a more favorable regulatory climate for crypto under the new SEC chair, Paul Atkins, who has expressed optimism about digital assets. Since January 2024, the SEC has approved spot Bitcoin and Ethereum ETFs, prompting multiple firms to propose various crypto ETFs, including those tracking Solana and others. Additionally, Nasdaq has proposed listing a Dogecoin ETF with 21Shares. Analysts anticipate further delays, noting that final deadlines for many ETF proposals may stretch into October 2025 or later, reflecting the ongoing evolution of regulatory frameworks for cryptocurrencies.
Nasdaq Proposes 21Shares Dogecoin ETF Amid SEC's New Crypto Focus
On April 29, 2025, Nasdaq filed a proposal to list the 21Shares Dogecoin ETF, following 21Shares' S-1 registration filed on April 9. This move is part of a new SEC approach under chairman Paul Atkins, who emphasizes reducing regulatory uncertainty in the crypto sector. Previous filings for a Dogecoin ETF were made by firms like Grayscale and Bitwise. Analysts estimate a 75% approval chance for Dogecoin ETFs, trailing only Litecoin ETFs at 90%. The SEC has already approved spot Bitcoin and Ethereum ETFs, indicating a growing acceptance of cryptocurrency investment vehicles.
ProShares Confirms No XRP ETF Launch on April 30; Futures ETFs Expected, Spot ETFs Under SEC Review
Bloomberg analyst James Seyffart clarified that ProShares has no XRP ETF launch scheduled for April 30, dispelling misinformation stemming from an old regulatory filing. Upcoming ProShares XRP ETFs will track futures contracts rather than holding spot XRP directly. The SEC is still reviewing spot ETF applications from Grayscale, Bitwise, and Franklin Templeton, with no approvals yet granted. Notably, Teucrium has launched a 2x Long XRP ETF (XXRP) that seeks to double daily returns, currently managing approximately $42.79 million. Futures ETFs face fewer regulatory hurdles compared to spot products, which undergo more intensive risk assessments.
Grayscale Launches BCOR ETF for Corporations Adopting Bitcoin as Treasury Asset
Grayscale launched the Bitcoin Adopters ETF on April 30, 2025, targeting companies that hold Bitcoin as a treasury reserve. This ETF tracks firms across seven sectors, including notable constituents like Michael Saylor’s Strategy, Marathon Digital Holdings, Tesla, Japanese firm Metaplanet, and KULR Technology Group. The launch coincides with a surge in institutional Bitcoin buying, with public companies acquiring over 30,000 BTC monthly in 2025, according to Fidelity Digital Assets. Notably, Bitcoin’s circulating supply is decreasing due to corporate accumulation, as firms aim to hedge against fiat inflation. Analysts from Bernstein suggest that Bitcoin might hit new highs due to increased corporate demand and growing ETF inflows. The competitive landscape features around 80 companies collectively holding about 700,000 BTC, equivalent to 3.4% of Bitcoin’s total supply, indicating a significant strategic shift towards Bitcoin in corporate treasury strategies.
Strong Approval Odds for Litecoin, Solana, XRP ETFs in 2025, Analyst Says
Recent updates from Bloomberg’s Senior ETF Analyst Eric Balchunas indicate strong prospects for the approval of several spot cryptocurrency ETFs by the U.S. Securities and Exchange Commission (SEC) in 2025. Among the cryptocurrencies highlighted, Litecoin (LTC), Solana (SOL), and a crypto basket ETF boast a 90% chance of approval, while XRP has an 85% likelihood, with an important update anticipated on April 21st. Other cryptocurrencies such as Dogecoin (DOGE) and HBAR have approval odds of 80%, while Cardano (ADA), Polkadot (DOT), and Avalanche (AVAX) stand at 75%. The SEC is likely to classify many of these assets as commodities, enhancing their approval prospects. As regulatory deadlines approach, the potential approval of these ETFs could significantly integrate cryptocurrencies into traditional financial markets, facilitating safer and easier investments for a broader range of investors.
Canary Capital Proposes First Spot SEI ETF with Staking Feature to U.S. SEC
Canary Capital has filed with the U.S. SEC to launch a groundbreaking ETF that would be the first spot ETF directly focused on Sei (SEI), a cryptocurrency associated with the Sei blockchain. Unique to this ETF is its staking feature, allowing investors to earn passive returns. The fund aims to closely track SEI’s market value, with the custody managed by BitGo and Coinbase, and will process subscriptions and redemptions in cash, mirroring the operations of existing spot Bitcoin and Ethereum ETFs in the U.S. SEI operates on a Layer 1 blockchain utilizing the Cosmos SDK, known for high speed and cross-chain capabilities, serving as a development environment similar to Ethereum while pursuing performance objectives akin to Solana. Additionally, the Sei Foundation has recently launched the Sei Development Foundation to enhance the blockchain’s ecosystem and promote wider crypto adoption in the U.S. This move aligns with Canary Capital's broader strategy of expanding its crypto ETF offerings.
21Shares Files for Spot Sui ETF in the US Amid Growing Institutional Demand
21Shares, a major European cryptocurrency investment firm, has filed for a spot Sui exchange-traded fund (ETF) in the United States, expanding its presence in the US market. This filing, submitted on April 30, 2025, to the SEC, aims to track the performance of SUI tokens held by its US subsidiary, without using leverage or derivatives. It follows the launch of the 21Shares Sui Staking exchange-traded product in Europe in July 2024. Notably, the filing lacks details on the exchange for its debut or a ticker symbol. The 21Shares application is among over 70 crypto ETF proposals awaiting SEC review, with the market showing increasing institutional interest. Additionally, as of April 25, Sui-based exchange-traded products had accumulated $400 million in assets under management and saw $72 million in inflows year-to-date, illustrating robust demand in this sector.
This article has been refined and enhanced by ChatGPT.
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