The U.S. Securities and Exchange Commission (SEC) is currently reviewing spot exchange-traded fund (ETF) filings for several cryptocurrencies, including XRP, Dogecoin (DOGE), Solana (SOL), and Cardano (ADA). Georg Brameshuber, a crypto advisor, noted that Grayscale and Canary Capital are leading these efforts. He remarked that Bitcoin and Ether ETFs were merely the beginning of this trend. Brameshuber shared his insights in a February 23 post on X.
"Bitcoin and Ether ETFs were just the beginning," said Brameshuber, crypto investor and influencer. "The SEC is now reviewing spot ETF filings for XRP, DOGE, SOL, and ADA. Will 2025 be the year of multi-asset crypto ETFs?"
According to Coin Insider, Grayscale has submitted an application to the SEC to convert its Digital Large Cap Fund into an ETF. This move aims to improve liquidity, transparency, and accessibility for investors. The fund comprises assets such as Bitcoin and Ethereum. Historically, the SEC has approached crypto ETFs with caution; however, recent legal rulings and market developments could potentially sway their decision. If approved, this ETF would offer a regulated investment vehicle for diversified exposure to cryptocurrencies.
Georg Brameshuber's post
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A report by Coindesk reveals that Canary Capital has also filed with the SEC to launch a Sui (SUI) ETF. This follows its recent applications for Dogecoin, Solana, and XRP ETFs. The announcement coincides with Trump-affiliated DeFi platform World Liberty Financial's decision to incorporate Sui assets into its token reserve. Canary Capital previously registered a trust entity in Delaware and is anticipated to submit a 19b-4 filing to formalize its ETF plans. Following this news, SUI's price was reported at $2.34, reflecting a 52% gain over the past year but a 31% decline in the past month.
Cryptocurrency exchange-traded funds provide investors with exposure to digital assets by tracking their price movements without requiring direct ownership of these assets. These ETFs trade on stock exchanges and can be held in standard brokerage accounts, offering convenience compared to trading directly on cryptocurrency exchanges. According to Investopedia, there are two main types of cryptocurrency ETFs: futures-based ETFs that invest in cryptocurrency derivatives and spot ETFs that hold actual digital assets.
Brameshuber is not only a co-founder of Validvent but also serves as a board member of the Digital Asset Association Austria (DAAA). He is recognized as a certified tax advisor and Web3 entrepreneur with five years of experience researching and teaching crypto economics at the University of Vienna. His LinkedIn profile indicates that he provides crypto tax advisory services and consulting for Web3 startups.
