The U.S. Securities and Exchange Commission received more than 30 new crypto ETF filings on Friday, signaling a record wave of submissions from fund managers looking to secure approval in the increasingly open digital asset market under President Donald Trump’s administration.
REX Shares and Osprey Funds submitted prospectuses covering 21 ETFs that track assets such as SUI, BCH, and HYPE, including some funds with staking features. Defiance ETFs LLC, founded in 2018, added to the rush by applying for 3x leveraged ETFs tracking not only crypto but also Tesla and Amazon.
Nate Geraci, president of NovaDius Wealth Management, noted on X,
The latest submissions follow a regulatory adjustment that allowed exchanges to modify listing standards for commodity-based trust shares. This move cut the time frame for ETFs to begin trading, removing the need for the lengthy 19b-4 process. As a result, many new funds were expected to hit the market faster than before.
Several ETF proposals are further along in the process and approaching critical deadlines in the coming weeks. However, progress has halted after the U.S. government shutdown began on Wednesday, triggered by Congress’s failure to reach a funding agreement. The 2018 shutdown lasted 34 days, raising concerns of a similar delay this time.
CNF reports that the shutdown leaves the SEC with limited capacity to process filings, meaning no new crypto ETFs are likely to advance until government operations restart.
Bloomberg ETF analyst Eric Balchunas noted, “everything is on ice… it’s like a rain delay,” implying no action will proceed until the SEC resumes full function.
However, Adrian Wall of the Digital Sovereignty Alliance said, “if crypto is to grow, it has to rise above day-to-day politics and be shaped by durable coalitions that can outlast a shutdown.”
Despite the policy standstill, the crypto market began the final quarter of the year with strong momentum. Bitcoin rose 11.79% in the past seven days to reach $122,335, while Ethereum climbed 12.35% to $4,494.
Major altcoins, including BNB, SOL, XRP, and ADA, also recorded significant increases during the same period, reflecting investor confidence in future crypto ETF approvals once operations resume.