Eric Balchunas, senior ETF analyst at Bloomberg, said the number of applications for crypto ETFs is already on the rise. reached 155.
Analysts expect this number to eventually reach 200 in what appears to be a “total land rush”.
Solana and Bitcoin lead
In terms of total ETF applications, Solana (BTC) and Bitcoin (BTC) are currently leading the way.
XRP is a close second with 20 applications. This is followed by Ethereum (ETH) and combo ETFs (10 applications).
OG altcoin Litecoin (LTC) also secured 5 filines. This is pretty impressive for a cryptocurrency that ranks only 31st in terms of market capitalization.
Even meme coins Dogecoin (DOGE) and Bonk (BONK) have amassed four and two ETF filings, respectively, despite their rather capricious nature.
Approval on hold due to government shutdown
At the same time, the US government shutdown has delayed the approval of crypto ETFs.
The U.S. Securities and Exchange Commission (SEC) has suspended its review of the aforementioned application.
That said, analysts expect the U.S. to quickly clear its backlog of more than 150 applications once the government reopens.
