Crypto News: ProShares Files for Crypto ETF Tracking Bitcoin, Ethereum, XRP, Solana

ProShares has filed with the U.S. Securities and Exchange Commission (SEC) to launch a new Crypto Exchange-Traded Fund (ETF) that tracks the top 20 cryptocurrencies through the CoinDesk 20 Index.

This ETF will offer exposure to some of the leading digital assets, including Bitcoin, Ethereum, XRP, and Solana, providing investors regulated access without directly holding the cryptocurrencies.​

ProShares plans to track the ETF's underlying index by using swaps, derivatives, and other financial instruments.

The fund will also employ a Cayman Islands subsidiary for specific derivative contracts, capped at 25% of total assets to ensure regulatory compliance.

The CoinDesk 20 Index excludes stablecoins, memecoins, and wrapped tokens, focusing on large-cap, liquid assets enhancing the fund’s stability and liquidity.​

Rising Crypto ETF Filings Signal Growing Institutional Interest

Bloomberg ETF analyst Eric Balchunas revealed on X (formerly Twitter) that there are currently 155 crypto Exchange-Traded Product (ETP) filings tracking 35 different digital assets.

He predicts that the number could surpass 200 in the next 12 months, marking a significant surge and land rush into crypto ETFs.

This expansion reflects increasing institutional demand for diversified and regulated cryptocurrency vehicles.​

The inclusion of major cryptocurrencies such as Bitcoin, which maintains the highest index weight, Ethereum, XRP, and Solana demonstrates a deliberate effort to balance market relevance with broad diversification.

XRP and Solana add strong diversification to the fund, given their market capitalization and liquidity, thus reducing the volatility risks of single-asset exposure.​

ProShares has a history of pioneering crypto investment products, having launched its first Bitcoin futures ETF in 2021.

This new filing represents a continuation of its strategy to expand regulated crypto investment options for institutional and retail investors alike.

The ETF’s design facilitates exposure to cryptocurrency price movements through regulated financial markets, minimizing custody and security concerns tied to direct crypto holding.