Crypto ETFs list: New and upcoming ETFs to watch [2025]

Disclaimer: Crypto ETFs can be a volatile investment with the risk of capital loss. Before making any investment decision, consider all risks, fees and expenses relating to the investment to decide if it’s right for you, and seek advice from a licensed financial professional where appropriate. This article is for factual purposes only in providing information on cryptocurrency ETF financial instruments. This article is not a recommendation to invest in these financial products and is not financial advice.

Note: The U.S. government shutdown that began in October 2025 is expected to significantly delay the review and approval of crypto-related ETF filings.

The SEC is operating with severely limited staffing, meaning the 92 pending crypto ETF filings will be on hold until government funding is restored.

While the SEC’s electronic filing system is still accepting submissions, no action or approvals are being processed apart from emergency matters.

October is shaping up to be a landmark month for crypto ETFs. The U.S. Securities and Exchange Commission (SEC) has to hand out final decisions on whether to approve several long-awaited spot crypto ETFs this week. Bloomberg ETF analyst Eric Balchunas has even dubbed the month ‘Cointober.’

ETF analysts and prediction markets are placing the odds of approval at higher than 95%, as investors gear up for a wave of changes under new SEC rules. 

We’ll explore the details of what’s coming in this article, but first, let's break down the basics:

What is a cryptocurrency ETF?

A cryptocurrency exchange-traded fund (ETF) is an investment vehicle traded on traditional stock exchanges that provides investors with exposure to the price movements of one or more digital assets without the need to directly own or manage those assets through blockchain wallets or crypto exchanges.

These funds make it easier for traditional investors to access the rapidly evolving crypto market using a familiar investing platform.

Crypto ETFs can be structured differently. Some are based on futures contracts, which derive their value from the expected future price of a cryptocurrency, while others are based on spot holdings, meaning the fund holds the actual underlying cryptocurrency itself, such as Bitcoin or Ethereum. 

There are also ETFs that track indices or baskets of crypto-related equities, such as companies involved in blockchain infrastructure, mining, crypto custody services, or crypto-treasury firms.

Why is the SEC now pro-crypto and we are seeing more crypto ETF filings?

The SEC under Chair Paul Atkins has adopted a less confrontational regulatory approach compared to previous leadership. 

Several enforcement actions have been dismissed. The SEC formed a Crypto Task Force focused on developing a balanced regulatory framework via public and industry engagement rather than just enforcement.

The biggest development for ETF issuers is undoubtedly the SEC’s approval of generic listing standards for commodity-based trust shares. Essentially, the new rules streamline the listing process and accelerates the timeline for crypto ETFs to launch in the U.S. 

For context, crypto ETFs often took more than six months to be approved. Now, that process could be shortened to a span of weeks.

Here are some of the other changes in the SEC’s regulatory stance that have made it more receptive to crypto-related products:

1. Launch of Project Crypto: In July 2025, SEC Chair Paul Atkins introduced ‘Project Crypto,’ an initiative to modernise securities laws and regulations to better accommodate the crypto ecosystem. The project aims to create clear guidelines for classifying crypto assets (such as securities, stablecoins, digital commodities) and to enable the tokenisation of traditional securities on blockchain, facilitating trading on decentralised finance (DeFi) platforms.
2. Regulatory clarity on crypto tokens: In April 2025, the SEC updated its guidance on what constitutes a security in the crypto world, clarifying the application of the 'Howey test' to crypto tokens. This guidance distinguishes tokens based on their features and use cases and provides a framework for when tokens are considered securities versus non-securities, giving asset issuers and investors more legal certainty.
3. Government and national support: Alongside the SEC’s efforts, U.S. executive orders and national strategies are supporting the crypto industry while addressing concerns around stablecoins, money laundering, and crypto market integrity. This wider governmental backing helps create an environment conducive to crypto innovation and investment.

Timeline to watch for SEC decisions related to Crypto ETF filings

October and November are key months for crypto ETF outcomes. A broad range of altcoin ETF proposals hit their statutory deadlines. Watch for the following important dates and milestones related to SEC crypto ETF filings and decisions:

October 2025

• October 8, 2025: SEC decision deadline on Truth Social Bitcoin and Ethereum ETF.
• October 18, 2025: SEC decision deadline on Grayscale XRP Trust.
• October 19, 2025: SEC decision deadline on 21Shares Core XRP ETF.
• October 23, 2025: Multiple SEC decisions due for:
• CoinShares XRP ETF
• Canary XRP Trust
• CoinShares Litecoin ETF
• 21Shares Core Ethereum ETF with staking
• October 30, 2025: SEC decision deadline on BlackRock’s iShares Ethereum Trust staking amendment.

November 2025:

• November 12, 2025: SEC decision deadline on Grayscale Hedera Trust.
• November 14, 2025: SEC decision deadline on Franklin Templeton’s Solana and XRP ETFs.

November to December 2025: 

• 240-day review ends for additional filings: Polkadot, HBAR, Avalanche, and others. Potential final approvals or rejections are also expected during this timeframe.

Types of crypto ETFs

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Blockchain ETFs

Blockchain ETFs are specialised ETFs that provide exposure to the blockchain industry by investing in companies that develop, utilise, or benefit from blockchain technology. They typically invest in a basket of stocks involved in the broader blockchain ecosystem, spanning tech firms, financial institutions, and crypto mining companies.

Some prominent blockchain ETFs include:

1. VanEck Digital Transformation ETF ($DAPP):

• Tracks an index of companies deriving significant revenue from digital assets (includes exchanges, crypto miners, and infrastructure).
• Top holdings: Coinbase Global ($COIN), Strategy ($MSTR), Metaplanet ($MTPLF)
• Expense ratio: 0.51%
• Assets under management: $210M (as of October 2025)

2. Global X Blockchain ETF ($BKCH):

• Focuses on companies in blockchain mining, applications, and transactions.
• Top holdings: Coinbase Global, MARA Holdings($MARA), Core Scientific ($CORZ)
• Expense ratio: 0.50%
• Assets under management: US$191M (as of October 2025)

3. Amplify Transformational Data Sharing ETF ($BLOK):

• Actively managed, invests in global companies developing or using blockchain technologies.
• Top holdings: Robinhood Markets ($HOOD), Metaplanet, Galaxy Digital ($GLXY)
• Expense ratio: 0.76%
• Assets under management: US$932M (as of October 2025)

💡Related: 10 crypto stocks to watch in 2025→

Spot Bitcoin ETFs

A spot Bitcoin ETF is a type of ETF that directly holds and tracks the real-time ‘spot’ market price of Bitcoin, allowing investors to gain regulated, mainstream access to Bitcoin price movements without directly buying or storing the digital asset themselves. 

The SEC approved the first 11 spot Bitcoin ETFs in January 2024, leading to significant cash inflows and elevated trading volumes, with some ETFs like BlackRock’s iShares Bitcoin Trust ($IBIT) reaching over US$21B in assets under management within the first year.

These are some of the most popular spot Bitcoin ETFs:

1. iShares Bitcoin Trust ($IBIT):

• Provider: BlackRock
• Expense ratio: 0.25%
• Assets under management: Over US$87.67B (as of October 2025)
• YTD performance: 17.34% (as of October 2025)

2. Fidelity Wise Origin Bitcoin Fund ($FBTC):

• Provider: Fidelity
• Expense ratio: 0.25%
• Assets under management: Over US$23.21B (as of October 2025)
• YTD performance: 17.31% (as of October 2025)

3. VanEck Bitcoin Trust ($HODL)

• Provider: VanEck
• Expense ratio: 0.20% 
• Assets under management: Over US$2B (as of October 2025)
• YTD performance: 17.42% (as of October 2025)

✅ Check out: How to buy Bitcoin ETFs in Australia→

Spot Ethereum ETFs

Spot Ethereum ETFs are a type of ETF that directly holds and tracks the real-time ‘spot’ market price of Ether (ETH), allowing investors to gain regulated, mainstream access to its price movements without directly buying or storing the digital asset themselves. 

The first spot Ethereum ETFs launched in the U.S. in July 2024 following SEC approval, but did not see the same levels of inflows as their Bitcoin counterparts during their early days. Things changed this year: Ethereum ETFs saw a 369% increase in inflows from June to July 2025, capturing US$5.43B of the $12.8B total inflow into crypto ETFs that month alone.

These are some of the most popular spot ETH ETFs:

1. iShares Ethereum ETF ($ETHA):

• Issuer: BlackRock
• Expense ratio: 0.20%
• Assets under management: Over US$15.93B (as of October 2025)
• YTD performance: 21.07% (as of October 2025)

2. Fidelity Ethereum Fund ($FETH):

• Issuer: Fidelity
• Expense ratio: 0.25%
• Assets under management: Over US$3.19B (as of October 2025)
• YTD performance: 21.08% (as of October 2025)

3. Bitwise Ethereum ETF ($ETHW):

• Issuer: Bitwise Asset Management
• Expense ratio: 0.20%
• Assets under management: Over US$501.7M (as of October 2025)
• YTD performance: 21.35% (as of October 2025)

Bitcoin Futures ETFs

A Bitcoin futures ETF is a fund that provides exposure to Bitcoin's price movements through futures contracts rather than holding the cryptocurrency directly. These ETFs invest in bitcoin futures traded on regulated exchanges like the Chicago Mercantile Exchange (CME), enabling investors to gain bitcoin exposure using traditional stock exchanges without owning bitcoin itself. 

Futures-based ETFs typically use a ‘roll’ strategy, buying near-term futures and then selling them as they expire to buy longer-term ones, which can lead to ‘roll costs’ and performance differences compared to Bitcoin spot prices.

Here are some of the most popular Bitcoin futures ETFs:

1. ProShares Bitcoin Strategy ETF ($BITO):

• Issuer: ProShares
• Expense Ratio: 0.95%
• Assets Under Management: US$2.69B (as of October 2025)
• YTD Performance: -17.02% (as of October 2025)

2. Valkyrie Bitcoin Strategy ETF ($BTFD):

• Issuer: Valkyrie
• Expense Ratio: 0.95%
• Assets Under Management: US$2.68B (as of October 2025)
• YTD Performance: 14.50% (as of October 2025)

Altcoin ETFs

Altcoin ETFs are those exchange-traded funds that track the prices of cryptocurrencies other than Bitcoin and Ethereum. Of the 92 crypto ETFs under review for SEC approval, 17 are Solana-based funds and 15 are XRP funds. There are also several ETF applications that seek to track the prices of Litecoin, Polkadot, Avalanche, and Cardano.

These are some of the most highly anticipated altcoin ETFs that have launched or are expected to launch in 2025:

1. REX-Osprey XRP ETF ($XRPR):

• Issuer: REX-Osprey
• Expense Ratio: 0.75%
• Assets Under Management: US$71.3M (as of October 2025)
• YTD Performance: -8.12% (as of October 2025)

XRPR is a hybrid spot ETF structured under the Investment Company Act of 1940. XRPR typically holds the majority of its assets directly in spot XRP, with the remainder in XRP-based exchange-traded products. The fund launched in September 2025, with US$38M in day-one inflows, setting a record for ETF debuts this year.

2. Grayscale CoinDesk Crypto 5 ETF ($GDLC):

• Issuer: Grayscale
• Expense Ratio: 0.75%
• Assets Under Management: US$71.3M
• YTD Performance: 34.32% (as of October 2025)

GDLC is the first multi-crypto ETF approved under new generic listing standards, converting from the Grayscale Digital Large Cap Fund. GDLC allocates approximately 70% of its assets to Bitcoin and 20% to Ether, and the rest to XRP, Solana and Cardano.

After converting to an ETF, it accumulated US$915M in assets under management within a day. Before converting into an ETF, GDLC traded as an over-the-counter investment and has gained 40% YTD.

Memecoin ETFs

Memecoin ETFs are a new and emerging category of ETFs focused on meme cryptocurrencies, such as Dogecoin (DOGE), Bonk (BONK), and even a proposed Trump-themed memecoin (TRUMP).

These funds represent a blend of community-driven cryptocurrencies with regulated investment frameworks. They predominantly appeal to speculative investors, driven by momentum and cultural engagement rather than technical utility or traditional investment fundamentals.

These are some of the most closely-watched memecoin ETFs:

1. REX-Osprey DOGE ETF ($DOJE):

• Issuer: REX-Osprey
• Expense Ratio: 0.75%
• Assets Under Management: US$19.82M (as of October 2025)
• YTD Performance: -17.90% (as of October 2025)

The DOJE ETF is the first-ever U.S. exchange-traded fund providing regulated exposure to Dogecoin, launched by REX-Osprey. The ETF saw strong retail enthusiasm on its debut, and large investors accumulated over 280 million DOGE in the days leading up to its launch. However, inflows into the fund remain moderate compared to the initial high trading volumes.

2. REX-Osprey TRUMP Memecoin ETF

The REX-Osprey TRUMP Memecoin ETF is a proposed ETF designed to track the TRUMP memecoin, which was launched by President Donald Trump just before his inauguration in 2025.

This Memecoin ETF still hasn’t been approved, and it’s unclear if it will be. REX-Osprey has had success getting other crypto ETFs through the SEC using a registered investment company (RIC) setup, but this one will be a tougher sell given its significantly higher risk profile.

3. REX-Osprey BONK Memecoin ETF

The REX-Osprey BONK Memecoin ETF is a proposed exchange-traded fund that includes exposure to the BONK memecoin –  the first major dog-themed meme coin on the Solana blockchain. Similar to REX-Osprey’s TRUMP filing, the odds of this fund’s approval are considerably lower, given the relatively illiquid nature of the underlying asset it seeks to track.

Will these ETFs be available on Stake?

If these ETFs are listed on U.S. exchanges like the NYSE or Nasdaq, there's a strong chance they'll become available on Stake. These two exchanges form the core of our U.S. market offering, so most ETFs listed there are typically available to trade on our platform.

That said, while listing on NYSE or Nasdaq is a good indicator of their availability, we can’t guarantee when specific assets will appear in the app, if at all. There may be a delay between when an ETF launches and when it's accessible to trade on Stake, due to technical, regulatory, or operational processes and requirements we need to complete on our end.

Here are the key issuers to watch in the crypto ETF race

21Shares

21Shares is the world's first and largest crypto exchange-traded product (ETPs) issuer with assets under management of around US$11B. The Swiss firm is known for launching the first physically-backed crypto ETP ($HODL) on the SIX Swiss Exchange in 2018 before expanding to other markets.

The firm also has a strong research-driven approach, with a team experienced in blockchain technology and crypto markets. More recently, 21Shares has been actively filing for new crypto-related ETFs in the U.S., including spot Solana and Ether ETFs. 

Investors who choose 21Shares funds tend to do so because it's what you’d call a ‘crypto-native’ firm – built by blockchain believers, not just market followers.

VanEck

VanEck is a notable incumbent with an established presence in crypto ETF applications in the U.S. market. Their filings include spot ETFs targeting layer 1 blockchains such as Avalanche (AVAX), Solana (SOL), XRP and Cardano (ADA).

The company built a specialised digital assets research and investment team by 2021 and expanded its offerings with filings and launches of Ether ETPs and strategy ETFs for Bitcoin and Ethereum.

VanEck also offers the VanEck Bitcoin ETF ($VBTC) on the ASX, providing simple, regulated exposure to Bitcoin for retail investors with competitive trading spreads.

Investors choose VanEck for its trusted legacy and forward-thinking approach that bridges traditional finance with cutting-edge crypto exposure.

Grayscale

Grayscale Investments is known for its flagship Bitcoin trust – the Grayscale Bitcoin Trust ($GBTC) – which began trading over-the-counter (OTC) in 2015.

GBTC long traded at a premium to its Bitcoin NAV, peaking over 130% in 2017, as investors valued its convenience and regulatory safety. But with cheaper alternatives emerging in 2021, it flipped to a discount – reaching as low as 45% by early 2023.

GBTC was officially converted into an ETF in 2024, but the firm’s expense ratio is still substantially higher than other Bitcoin ETFs at 1.5%. 

Despite competition from cheaper ETFs, Grayscale's brand recognition, large asset base, and regulatory foothold provide a strong foundation for growth.

Bitwise

Bitwise Asset Management is a specialised crypto asset management firm founded in 2017. It was a pioneer in offering the world's first publicly traded crypto index fund, the Bitwise 10 Crypto Index Fund ($BITW), which tracks the top 10 largest cryptocurrencies by market capitalisation.

The firm has a pipeline of crypto ETFs in 2025, with around 10 major crypto ETFs expected to launch in 2025. Its proposed conversion of BITW into an ETF was fast-tracked for approval, only for it to be immediately halted by the SEC, presumably stemming from concerns around the smaller constituents in the index, like SUI and AVAX.

With over US$15B in assets under management, the firm is known for its robust research and risk management. 

List of crypto ETF filings currently with the SEC

Over 92 crypto ETF applications are currently awaiting SEC approval, spanning both mainstream tokens (XRP, Solana, Litecoin, Dogecoin) and unconventional or novelty-themed offerings like meme‑coin ETFs.

These are some of the most watched:

Note: It is widely expected that most of these 19b-4 filing applications will be withdrawn from the SEC’s register and filed under the new generic listing standards for crypto ETFs.

Get seamless access to cryptocurrency ETFs

Explore the new crypto ETFs when they launch and become available to trade on Stake.

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How do these ETF filings impact crypto investors?

ETF filings from major institutions like Fidelity and VanEck signal that crypto is being taken seriously by traditional finance. This boosts confidence among retail investors and could encourage more institutional investors to follow suit.

ETF approvals usually lead to massive institutional buying of the underlying asset, seeing as institutions often buy and hold large amounts of crypto to back the ETF shares. This can reduce supply of those crypto assets on exchanges, which can drive up prices and create a new demand floor.

If approved, crypto ETFs would make crypto easier to access for retail investors investing in Wall St from their existing platform. This could not only increase capital inflow but also boost liquidity and stability.

This article has been updated to reflect the uncertainty of timelines for crypto ETF approvals in light of the U.S. government shutdown.

Disclaimer

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Article sources

[1] SoSoValue

[2] SEC approves generic listing standards for commodity-based trust shares