2025 could be a big year for cryptocurrency exchange-traded funds (ETFs), according to Laser Digital, the digital asset subsidiary of financial services giant Nomura.
More than a dozen crypto ETFs could be launched in the US this year, if approved by the Securities and Exchange Commission (SEC), Laser Digital said in a report last week.
The asset managers have submitted 12 SEC filings to date, according to the report, and potential products include the ProShares ETF that tracks the S&P 500’s return on bitcoin, a combined bitcoin/ether ETF, and litecoin, XRP and Solana based products.
Laser Digital said a bitcoin/ether ETF is likely to get approval first.
The launch of spot bitcoin ETFs in the US in January last year was a resounding success. Blackrock’s iShares Bitcoin Trust (IBIT) amassed roughly $53 billion in assets under management in its first 11 months, beating all previous ETF launches.
At the appointment of the crypto-friendly Paul Atkins as chairman of the SEC, and the exit by Gary Gensler, the ongoing lawsuits against crypto companies are likely to disappear, the report says, and this makes the approval of these new ETFs more likely.
The ETF market is expected to continue to grow in terms of AUM, Laser Digital said, and will see wider adoption by institutional investors by 2025, even more so than President-elect Donald Trump’s return to office supported by a team of crypto-friendly regulators.
Asset manager Grayscale said it is looking to convert its Grayscale Solana Trust (GSOL) into an ETF in December.
