- Most REX-Osprey ETF filings include staking rewards for assets like ADA, AVAX, NEAR and SUI.
- New generic listing standards shorten ETF approval timelines but shutdown delays decisions.
- Sixteen crypto ETF proposals face October 2025 deadlines, including Solana and XRP.
A fresh wave of exchange-traded fund applications has landed at the U.S. Securities and Exchange Commission (SEC), this time targeting the fast-growing altcoin market. REX Shares and Osprey Funds jointly submitted 21 spot crypto ETF filings, marking one of the largest coordinated pushes for digital asset funds to date. The filings span assets such as Cardano (ADA), Stellar (XLM), Sui (SUI), and Hype (HYPE), with many structured as yield-generating products rather than simple price trackers.
Staking ETFs Expand Beyond Bitcoin and Ethereum
Unlike earlier proposals focused solely on market exposure, most of the new REX-Osprey submissions integrate staking rewards. Assets including ADA, AVAX, DOT, NEAR, SEI, SUI, TAO, and HYPE would allow holders to earn validator income alongside price movement.
The firms recently launched a Solana staking ETF that reached new highs, reportedly encouraging broader replication across multiple assets. However, the filings go beyond staking mechanics.
Each fund uses a Cayman Islands subsidiary, a structure designed to comply with U.S. tax regulations while keeping exposure to digital assets. At least 40% of portfolio allocations may also be directed toward foreign exchange-traded products listed in Europe and Canada.
Issuers such as 21Shares, CoinShares, and Valour are referenced in the documents as eligible benchmarks. Analysts, led by James Seyffart of Bloomberg, have described the filing volume as unprecedented for single-asset crypto products.
Generic Listing Standards
The timing follows the SEC’s recent decision to approve new “generic listing standards” for commodity-linked funds, including cryptocurrencies. That rule change removes the need for lengthy case-by-case waivers under Form 19b-4, notably reducing listing timelines. Dozens of crypto ETFs could now reach trading status faster than in previous cycles.
However, regulatory advancement faces an immediate obstacle. The ongoing U.S. government shutdown has stalled agency operations, causing the SEC to miss its October 2 decision on the Canary Litecoin ETF. Staffing reductions have paused progress on pending crypto applications, including the new REX-Osprey products.
October Deadlines Pressure
Sixteen crypto ETF proposals face final deadlines in October 2025, covering assets beyond Bitcoin and Ether. Submissions linked to Solana, XRP, and Litecoin are included in the pending queue. Industry observers point to past shutdowns, such as the extended 2018 freeze, as reference points for stalled approvals.
For now, the SEC holds the largest concentration of altcoin ETF proposals in its history, yet none can proceed until government operations resume.
