Over 200 Crypto ETPs Expected Within a Year, Analyst Says

There are over 155 crypto exchange-traded products (ETPs) filings waiting for regulatory approval at this very moment. According to a post by Bloomberg analyst Eric Balchunas, the filings cover a total of 35 different cryptocurrencies. 

Balchunas details that 23 filings are being made for Solana ETPs, and another 23 for Bitcoin financial products. Even memecoins like Pengu are getting their spot in this array of crypto ETPs. 

XRP has 20 filings, and Ethereum with 16. Other assets in the mix include Litecoin (LTC), Chainlink (LINK), and Hedera (HBAR), among others. This count excludes the products that are already in the market, which is why Bitcoin and Ethereum are not at the top.

Balchunas states that it is not unlikely that the market will have over 200 crypto exchange-traded products in a year, reinforcing the strong shift that traditional markets have made towards crypto in the last few years.

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Ever since Bitcoin ETFs debuted last year, financial markets registered a wave of inflows. Bitcoin exchange-traded funds now manage tens of billions in assets, while Ethereum ETFs are becoming increasingly investor-attractive due to the likelihood of added staking benefits. 

The main regulatory body in charge of approving ETPs in the United States, the Securities and Exchange Commission (SEC), has its hands full. The Commission is overseeing dozens of crypto ETF applications filed over the past months, with several coming to a deadline still this month. 

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XRP and SOL spot ETF filings by fund managers like Grayscale, Fidelity, 21Shares, and Bitwise are the most anticipated. But the options span across several altcoins, including Dogecoin, Cardano, Polkadot, and even leveraged options.

These products provided traditional investors with the chance to obtain cryptocurrency exposure without having to deal with custody. In a market where many investors wouldn’t otherwise bother to learn about new technologies, ETPs offer a familiar structure to these investors.