[10/15/24] After XRP, the Next Spot Crypto ETFs?

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WEEKLY ROUNDUP OF ETF FILINGS, LAUNCHES & CLOSURES

With issuers seeking permission to create ETFs based on XRP, the seventh largest cryptocurrency by market value, investors may be wondering which cryptocurrencies could not be packaged into an exchange-traded fund

Canary Capital and Bitwise’s applications for spot XRP funds earlier this month underscore wider efforts to satisfy investors’ voracious appetite for digital asset-focused investments.

The Securities and Exchange Commission is also currently weighing ETF applications for Solana, the fifth largest digital asset in market value and perhaps no more widely recognized than XRP.

How far the crypto world has traveled since ETFs focused on bitcoin began trading in early January after a decade of rejections. Those funds now manage a whopping $55 billion in assets. Products tracking ether, the token of the Ethereum blockchain, kickstarted in March, albeit to a more tepid response.

Do funds based on the doge or shiba inu memecoins or one tracking the solana token of the like-named blockchain seem far-fetched?

Bitcoin and Ethereum-focused funds once seemed that way. So did the very idea of a cryptocurrency little over 15 years ago.

By James Rubin

Below is a roundup of the key developments in the ETF industry for the seven-day period ending Oct. 12:

BlackRock ETFs Led Strong Third Quarter The iShares ETFs took in $97 billion, pushing the asset manager to $11.5 trillion in AUM.

ETF Spotlight: Will SGOV Surge After Latest Inflation Data? Yields on short-term U.S. Treasuries are outpacing inflation.

Energy ETFs Lag Broader Markets as Supply Risks Linger XLE's recent rally hasn't been enough to equal broader ETFs like SPY this year.

etf.com’s New ETF Pulse Tool: What It Is, How It Works Gain valuable insights into ETFs based on fund flows and performance trends.

etf.com Launches New Subscription Plans for All Users etf.com has launched new subscription plans, giving users unlimited access to content, tools, and more.

FEATURED FUND

Vanguard Energy ETF (VDE)

VDE is a passively managed fund that offers broad exposure to U.S. equity stocks in the energy sector, including multiple sub-industries within the sector. The $8 billion by assets ETF, which carries a .10% expense ratio, has a nearly 74% allocation in energy mineral companies and a more than 21% holding in industrial service firms.

WHAT TO WATCH

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Direxion Expands Semiconductor ETF Lineup with Broadcom, Micron The two new single stock ETFs offer leveraged and inverse exposure to the chip makers. Read More

New Tool Alert: ETF Pulse is a tracking tool designed to provide investors with insights into the top trending ETFs based on fund flows and performance metrics. Learn More

TALK ETF’S VIDEO SERIES

In this episode of Talk ETFs, etf.com Senior Analyst Sumit Roy discusses the Pacer Metaurus Nasdaq 100 Div Multiplier 600 ETF (QSIX) with Sean O’Hara, president at Pacer ETFs. According to O’Hara, the fund is currently yielding around 5% while maintaining much of the exposure to the upside in Nasdaq stocks. Watch Now

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