Bitcoin ETF achieves "huge success," Solana, Bitcoin-denominated US stocks, MSTR convertible bonds, and other digital currency ETFs are vying to file applications
ProShares plans to launch a Bitcoin-denominated S&P 500 Index ETF, Strive Asset Management and REX Shares intend to issue an ETF that invests in convertible bonds of companies that purchase Bitcoin, and Volatility Shares has proposed a reverse and leveraged Solana ETF, as well as an ETF tracking Solana based on futures contracts
In 2024, the price of Bitcoin broke through the $100,000 mark, and the spot Bitcoin ETF also created an industry myth, with IBIT becoming one of the most capital-absorbing products in ETF history. Amidst the booming market, major ETF companies are also gearing up to launch more innovative cryptocurrency-related products in 2025.
On January 3rd, according to Bloomberg, in 2024, several institutions submitted a series of novel ETF product applications to the U.S. Securities and Exchange Commission (SEC). These products include:
ProShares plans to launch an S&P 500 index ETF priced in Bitcoin
Strive Asset Management and REX Shares intend to issue an ETF that invests in convertible bonds of companies that purchase Bitcoin
Volatility Shares proposed a reverse and leveraged Solana ETF, as well as an ETF tracking Solana based on futures contracts
According to the filing documents, the REX ETF plans to invest most of its assets in convertible bonds issued by companies holding Bitcoin. Strive plans to launch a fund that gains exposure to convertible bonds of companies like MicroStrategy through derivatives such as swaps and options.
Bloomberg Intelligence analyst Athanasios Psarofagis stated, "This is a continued evolution of integrating cryptocurrency strategies into ETFs. We will see a large number of such products emerging in 2025."
In 2024, Bitcoin's price surpassed $100,000, with an annual increase of over 120%. The cryptocurrency market also witnessed a milestone development: the first Bitcoin ETFs in the U.S. were approved and listed.
These products achieved tremendous success, with BlackRock's Bitcoin ETF attracting over $37 billion in inflows throughout the year, ranking third among all ETFs.
Strategas ETF strategist Todd Sohn pointed out, "For the investing public, cryptocurrency is now a rare emerging asset class. Wall Street is always adept at creating supply when there is demand. This is the evolution of the cryptocurrency ETF space: from futures-based, spot, and thematic, to now convertible bonds, with specific products targeting MicroStrategy as well as companies covering other similar investment strategies."