Several days before Gary Gensler’s last working day as the chairman of the U.S. Securities and Exchange Commission (SEC), a wave of applications for the creation of cryptocurrency exchange-traded funds (ETFs)
ProShares submitted an application to create a Solana Futures ETF, which will allow investors to access the cryptocurrency SOL through futures contracts. A similar application was submitted by Volatility Shares towards the end of last year.
CoinShares, formerly known as Valkyrie Funds, submitted a proposal to create a CoinShares Digital Asset ETF, which will track its own Compass Crypto Market Index. Meanwhile, ProShares submitted applications to create additional ETFs with leverage, inverse and futures funds related to XRP.
Companies such as Bitwise, Canary Capital, 21Shares, and WisdomTree, submitted proposals earlier for the creation of spot ETFs on XRP.
Tidal DeFi submitted an application for the creation of Oasis Capital Digital Asset Debt Strategy ETF (DADS), focused on investments in debt instruments of cryptocurrency companies, including miners, service providers, and payment platforms.
On January 15, VanEck submitted an application for an ETF named Onchain Economy, which will invest in cryptocurrency companies, including software development, mining, and payment services.
The end of Gensler’s tenure on January 20 was marked by loud regulatory actions, including lawsuits against Coinbase and active measures against unregistered securities offerings. Trump appointed Mark Uyeda as the acting chairman of the SEC. Former SEC commissioner Paul Atkins was nominated by Trump for the position of permanent chairman of the agency in December of the previous year.