Crypto funds ready to take off in US

Asset managers are lining up to launch cryptocurrency exchange-traded funds in the United States, capitalising on growing excitement about digital assets while getting a boost from looser regulatory requirements.

- SUZANNE MCGEE AND HANNAH LANG

The Securities and Exchange Commission's updated standards for ETFs, announced earlier this moth, could encourage demand for exchange-traded products tied to cryptocurrencies ranging from solana to dogecoin.

ETFs based on the more traditional cryptocurrencies bitcoin and ethereum were launched in 2024 under prior rules that had stricter standards for issuers and exchanges.

There are 21 US ETFs that own either bitcoin or ethereum, or a combination of both, and scores of filings with the SEC for new products tied to other coins.