2025 could be a big year for cryptocurrency exchange-traded funds (ETFs), according to Laser Digital, the digital assets subsidiary of financial services giant Nomura.
More than twelve crypto ETFs could launch in the United States this year, if approved by the Securities and Exchange Commission (SEC), Laser Digital said in a report last week.
Asset managers have submitted 12 filings to the SEC to date, the report said, and potential products include a ProShares ETF that denominates the S&P 500’s return in bitcoin, a bitcoin/ether combo ETF, and litecoin-based products , XRP and Solana.
Laser Digital said a bitcoin/ether ETF would likely be approved first.
The launch of spot Bitcoin ETFs in the United States in January last year was a resounding success. Blackrock’s iShares Bitcoin Trust (IBIT) has accumulated approximately $53 billion in assets under management in its first 11 months, beating all previous ETF launches.
With the appointment of crypto-friendly Paul Atkins as SEC chairman and the departure of Gary Gensler, ongoing lawsuits against crypto companies are expected to fade, according to the report, making it more likely approval of these new ETFs.
The ETF market is expected to continue to grow in terms of assets under management, Laser Digital said, and will see wider adoption by institutional investors in 2025, even more so with President-elect Donald Trump returning to power, backed by a team of crypto-friendly regulators.
Asset manager Grayscale said it plans to convert its Grayscale Solana Trust (GSOL) into an ETF in December.
Learn more: Grayscale Files to Convert Solana Trust to ETF
