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 US this year, if approved by the Securities and Exchange Commission (SEC), Laser Digital said in a report last week.
Asset managers have filed 12 SEC filings to date, the report noted, and potential products include a ProShares ETF that tracks the performance of the S&P 500 in bitcoin, a combined bitcoin/ether ETF, and products based on in Litecoin, XRP and Solana.
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 around $53 billion in assets under management in its first 11 months, surpassing all previous ETF launches.
With the appointment of cryptocurrency supporter Paul Atkins as SEC chairman and the departure of Gary Gensler, ongoing lawsuits against cryptocurrency companies are likely to fade, according to the report, making the approval of these new ETFs is more likely.
The ETF market is expected to continue growing in terms of AUM, Laser Digital said, and will see broader adoption by institutional investors in 2025, even more so with President-elect Donald Trump back in office with the support of a team of cryptocurrency-friendly regulators.
Asset manager Grayscale said it was looking to convert its Grayscale Solana Trust (GSOL) into an ETF in December.
Read more: Grayscale files to convert Solana Trust to ETF
