Crypto ETFs get riskier and more creative as Wall Street pushes new offerings for 2025

Wall Street will launch more exchange-traded funds in 2025, and these new offerings will be even riskier and more creative. These crypto players aim to invite new investors into the crypto loop and maintain those already in it.

Moreover, ETFs will likely expand beyond Bitcoin and Ether in 2025 as companies like VanEck, 21Shares, and Canary Capital have already filed for spot Solana ETFs. Canary Capital has also requested approval to launch a Litecoin ETF, an XRP ETF, and an HBAR ETF.

Solana ETFs listing odds in 2025 are rising

On December 27, ETF Store president Nate Geraci disclosed that Volatility Shares had submitted its S-1 registration statement for its futures-based Solana ETF with the US Securities and Exchange Commission (SEC). 

Before then, VanEck, 21 Shares had already requested approval to list their spot Solana ETFs in June and Canary Capital in October.

With all these companies having sent in their applications, multiple analysts, including Matthew Sigel, VanEck’s head of research, are projecting that Solana ETFs are a must-have in 2025. 

On January 1, Polymarket, a cryptocurrency prediction platform, assessed the likelihood of a US Solana ETF being listed in 2025 at 77%, a probability Sigel described as “underpriced.” By January 2, however, the platform’s projected odds had elevated to 84%.

Aside from Solana ETFs, 2025 may also be a promising year for XRP ETFs. Canary Capital and Bitwise filed their S-1 registration statements for spot XRP ETFs in October. Therefore, Bloomberg Intelligence’s Athanasios Psarofagis believes 2025 will be the year of “crypto everything,” as crypto leaders are expected to further integrate cryptocurrency strategies into ETFs. He also noted that since the ETF evolution theme is still “hot” and raving at the moment, more issuers will step up.

More convertibles will emerge in 2025

The REX ETF plans to focus primarily on convertible bonds from Bitcoin-holding corporations. On Friday, December 27, REX Shares filed an application to launch the REX Bitcoin Corporate Treasury Convertible Bond ETF. Under normal market conditions, the ETF will commit at least 80% of its net assets, including borrowed capital, to these bonds. Any changes to this policy require a 60-day notice to shareholders.

Additionally, asset management firm Strive wants to introduce a new derivatives-focused fund. The fund will deal with swaps and options to gain exposure to convertible securities issued by MicroStrategy and other similarly aligned firms. 

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