155 crypto ETF applications await approval in the US, with Bitcoin and Solana leading the pack

According to Bloomberg, as of October 20th, the United States had 155 applications for cryptocurrency-based exchange-traded products (ETPs), covering 35 digital assets. Bitcoin and Solana each received 23 applications, XRP 20, and ETH 16. Although the US government shutdown that began on October 1st has delayed the approval process, industry experts remain optimistic that approval is imminent. Recently, issuers have actively submitted 2x and 3x leveraged ETFs and products with collateralization mechanisms, reflecting the market's "all-out rush" for crypto ETFs. Analysts point out that investors prefer to diversify their investments in emerging digital assets through index-based and actively managed ETFs, rather than single tokens. Since the launch of spot Bitcoin and Ethereum ETFs in January and July 2024, BTC ETFs have managed nearly $150 billion in assets, and ETH ETFs have managed approximately $24 billion.