ETF Issuers Press Ahead With Crypto Funds Despite Selloff

Even as a brutal selloff hits cryptocurrencies, ETF issuers are pushing ahead with new filings, betting demand will hold up through the downturn.

At least two firms have filed fresh paperwork with US regulators this month. Bitwise Asset Management Inc. in recent days registered plans for a Uniswap-linked fund. ProShares joined the rush on Monday, seeking approval for leveraged Bitcoin and Ether ETFs. Issuer 21Shares has resubmitted paperwork for funds based on Ondo and Sei, suggesting progress as it moves ahead with plans to launch those funds.

“Issuers – particularly 21Shares and Bitwise – are committed to the longer-term ...