Gensler’s imminent exit triggers wave of crypto ETF submissions
A surge of cryptocurrency ETF filings occurred just before Gary Gensler's resignation as SEC Chair on January 20. On January 17, multiple proposals were submitted, anticipating a more crypto-friendly regulatory environment under the incoming Trump administration. ProShares filed for a Solana Futures ETF, which offers exposure to Solana's cryptocurrency through futures contracts. ETF analyst James Seyffart expressed skepticism about the liquidity of existing futures. CoinShares filed for the "CoinShares Digital Asset ETF," while ProShares also proposed leveraged and inverse ETFs tied to XRP. Other firms, including Tidal DeFi and VanEck, submitted applications for various crypto-focused ETFs. Gensler's tenure included significant legal actions against major exchanges and unregistered securities. His departure coincided with other high-level resignations within the SEC and IRS.
