Crypto ETFs: Why the Market Isn't Buzzing Anymore

Market Reaction

Bitwise recently filed for 11 new crypto ETFs, but the market didn't react much. This shows that ETF filings are no longer exciting news. The market has seen a lot of these filings, and investors are now more focused on other things.

New ETF Details

The new ETFs would invest in different cryptocurrencies like Aave, Uniswap, and Zcash. Each fund would put about 60% of its money into the actual cryptocurrency and the rest into related investments. These ETFs are expected to launch in March 2026.

Market Saturation

But the market has already seen a lot of crypto ETFs. Grayscale, for example, has filed for ETFs on Bitcoin, Ethereum, Solana, and other cryptocurrencies. The SEC has also made it easier for exchanges to list these ETFs. This means that ETF filings are no longer a big deal.

Shift in Market Focus

The market has also changed because of the amount of money flowing into crypto ETFs. Bitcoin and Ethereum ETFs have seen a lot of money flow in, but this hasn't moved the prices much. This shows that the market is now more focused on other things, like the overall economy and leverage.

Solana ETF Example

The Solana ETF is a good example of this. Bitwise was able to list its Solana ETF on the NYSE Arca exchange in October. This forced other companies to list their own Solana ETFs. But the market didn't react to the filing. It only reacted when the ETF was actually listed.

Current Market Priorities

The market is now more focused on the actual listing of the ETF, not the filing. This is because the market now expects these ETFs to be listed. The market is also more focused on the fees, liquidity, and distribution of the ETFs.

Broader Economic Focus

The market is also more focused on the overall economy and leverage. This is because the market is now more mature. The market is no longer excited by ETF filings. It is now more focused on the actual listing of the ETFs and the overall economy.