Spot Crypto ETFs Move to the Legislative Agenda

South Korea’s National Assembly is expected to begin substantive legislative discussions in February regarding spot cryptocurrency exchange-traded funds (ETFs). At the center of these talks are proposed amendments to the Capital Markets Act, which would allow local financial institutions to issue and list spot crypto ETFs on regulated exchanges.

If implemented, this framework would represent a major step toward bridging traditional finance and digital assets. Spot ETFs could provide investors with exposure to cryptocurrencies without the need for direct custody, a structure that is particularly appealing to institutional players constrained by compliance and risk-management requirements.

Regulatory Authorities Signal Clear Support

The initiative is not limited to lawmakers alone. South Korea’s Financial Services Commission (FSC) has publicly expressed its support for the proposed legal changes. The regulator stated that it plans to implement the necessary supervisory and regulatory adjustments in parallel with parliamentary discussions.

This coordinated approach suggests that the process is designed to move beyond theoretical debate and toward practical execution. Market participants often view such alignment between legislators and regulators as a key indicator of policy follow-through.

Crypto’s Role in the 2026 Economic Growth Strategy

The government’s recently announced “2026 Economic Growth Strategy” further underscores a shift in how digital assets are perceived. Rather than framing crypto primarily as a regulatory risk, the new strategy places greater emphasis on institutional recognition and sector development.

One of the most notable elements of this roadmap is the explicit objective to introduce spot ETFs for major cryptocurrencies, including Bitcoin. Analysts argue that this could open the door for pension funds, large corporations, and asset managers to enter the market more actively, potentially increasing liquidity and market depth.

Stablecoin Regulation Takes Shape

Alongside ETFs, stablecoins represent another critical focus area. Authorities are preparing a two-phase legislative process to establish a formal framework for stablecoin issuance. Under the proposed structure, issuers would require authorization and sufficient capital backing, while issued stablecoins would need to be supported by reserves exceeding 100 percent.

Additionally, user redemption rights are expected to be legally protected. The government also aims to address cross-border use cases, positioning stablecoins as tools for blockchain-based trade and international payments.

What This Means for the Market

Taken together, these developments indicate that South Korea is positioning itself for a more institutional, regulated, and scalable crypto market. The introduction of spot ETFs and clear stablecoin rules could support medium- to long-term demand for both Bitcoin and altcoins, reinforcing Asia’s role in the next phase of global crypto adoption.

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Which Altcoins Are Included?

The list of assets covered in Bitwise’s ETF filings reflects a diverse cross-section of the crypto ecosystem. Rather than concentrating on a single narrative, the selection spans decentralized finance, Layer-1 infrastructure, privacy-focused networks, and emerging blockchain technologies.

The altcoins included in the applications are:

• Aave (AAVE)

• Uniswap (UNI)

• Zcash (ZEC)

• Canton (CC)

• Ethena (ENA)

• Hyperliquid (HYPE)

• Near (NEAR)

• Starknet (STRK)

• Sui (SUI)

• Bittensor (TAO)

• Tron (TRX)

This broad asset mix highlights Bitwise’s intention to capture multiple growth segments within the digital asset market rather than betting on a single category.

Why Spot Altcoin ETFs Matter

Spot ETFs allow investors to gain exposure to crypto assets through regulated financial products without the need to directly hold or custody tokens. For institutional investors, family offices, and traditional funds, this structure reduces operational complexity while aligning with existing compliance frameworks.

By extending ETF applications to altcoins, Bitwise is effectively acknowledging that institutional demand is evolving. The market is no longer limited to flagship assets, and alternative blockchain networks are increasingly viewed as investable instruments within a diversified portfolio.

Potential Market Impact

If approved, these ETFs could contribute to increased liquidity and broader market participation for the underlying assets. Easier access through traditional investment channels may also support more efficient price discovery over time.

In addition, Bitwise’s initiative could encourage other asset managers to pursue similar products, accelerating competition and innovation in crypto-based financial instruments.

A New Phase of Institutional Adoption

This development points to a new stage in institutional crypto adoption—one where altcoins are no longer peripheral but actively considered within structured investment products. As ETF offerings expand and diversify, digital assets may continue to solidify their position within global financial markets.

While regulatory outcomes remain uncertain, Bitwise’s move is a clear signal that the long-term potential of the altcoin market is gaining serious institutional recognition.

This content does not constitute investment advice. Cryptocurrency markets involve significant risk, and investors should conduct their own research before making any financial decisions.

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The post Bitwise Files Applications for 11 New Altcoin ETFs appeared first on Coin Engineer.

Government Shutdown Slows Applications

The government shutdown is slowing down the SEC’s routine operations. Crypto ETF and other ETF applications cannot be processed except in emergencies due to the agency’s limited staff. Experts indicate that the announcement of new applications is likely to be delayed during this process.

SEC’s New Crypto ETF Standards Deemed Insufficient

The SEC recently approved general listing standards that will apply to Crypto ETF and other investment funds. These new regulations aim to make the application process much faster and more efficient in theory. The agency can now handle applications collectively based on specific criteria rather than evaluating each one individually.

You May Be Interested In: SEC Withdraws ETF Applications for These Altcoins!

However, the government shutdown is limiting the impact of these improvements. Since most of the SEC’s staff are on unpaid leave, the approval process has effectively slowed down. The new standards, which were expected to speed things up under normal circumstances, are not fully functioning under the current conditions. According to experts, the SEC will not be able to take any significant steps regarding crypto ETF applications until it returns to full capacity.

Time for Investors to Be Patient

Those wishing to invest in crypto ETFs and other ETF products will have to postpone their decisions due to the SEC’s limited staff. The agency will only respond to urgent email and phone requests. Therefore, some approvals may not be announced in the short term.

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What is an ETF?

An ETF (Exchange-Traded Fund) is an investment vehicle that trades on securities exchanges and offers investors the opportunity to invest in a variety of assets. Typically, these funds include assets like stocks, bonds, commodities, or other financial instruments, providing a diversified portfolio for investors.

Thanks to arbitrage mechanisms, ETFs minimize deviations from the net asset value and typically work in connection with an index. These funds allow investors to trade a wide range of assets with low costs.

Altcoins with ETF Applications in the Crypto Market

In recent years, the cryptocurrency market has experienced significant activity, with institutional investor interest growing steadily. This increased interest is paving the way for cryptocurrencies to reach a broader audience as financial products. In this context, ETF applications mark an important milestone. ETFs allow investors to trade digital assets on exchanges without the need for direct cryptocurrency trading.

Many altcoins have taken steps toward this journey, making headlines with their ETF applications. Here are the altcoins that have applied for ETF listings:

• $XRP (Ripple)

• $SOL (Solana)

• $LTC (Litecoin)

• $APT (Aptos)

• $ADA (Cardano)

• $AVAX (Avalanche)

• $TRUMP (TrumpCoin)

• $HBAR (Hedera Hashgraph)

• $HYPE (HypeCoin)

• $BONK (BonkCoin)

• $SUI (Sui)

• $BNB (Binance Coin)

• $PENGU (PenguinCoin)

• $AXL (Axelar)

• $DOT (Polkadot)

• $DOGE (Dogecoin)

Altcoins applying for ETFs symbolize the beginning of a new era in the crypto world. These developments could enable investors to invest in digital assets in a more secure and regulated manner. As institutional investments increase, these altcoins may gain broader acceptance in the market. The steps taken in the cryptocurrency world could present significant opportunities in the near future.

This content is not intended as investment advice. Cryptocurrency markets carry high risk, and it is important to conduct your own research before making any investment decisions.

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In the cryptocurrency market, significant developments are unfolding, particularly regarding Bitcoin and other digital assets being presented as investment vehicles. Canary Capital stands out as an active player in the exchange-traded funds (ETFs) space for cryptocurrencies.

The State of Crypto ETF Applications and Investor Interest

Interest in cryptocurrency ETFs is increasing as they offer investors easier access to digital assets while providing regulatory security. The acceptance of some crypto ETF applications by the SEC has contributed to reducing regulatory uncertainty and boosting investor confidence.

Specifically, ETF applications for altcoins like Litecoin and Solana are considered highly likely to be approved. Analysts predict a 90% chance of Litecoin ETFs getting approved, with Solana and XRP ETFs expected to have approval probabilities of 70% and 65%, respectively.

Which Altcoin Did Canary Apply for Spot ETF This Time?

Canary Capital has caught the attention of the crypto investment world by filing a spot ETF application for HBAR, the native cryptocurrency of the Hedera network. This application reflects the growing demand for a product that allows investors to gain direct exposure to HBAR. Canary Capital aims to offer HBAR as an investment vehicle and provide investors with a secure way to invest in this digital asset.

The popularity of spot ETFs, especially following the approval of ETFs for major cryptocurrencies like Bitcoin and Ethereum, has been increasing. Therefore, Canary’s application for a spot ETF for HBAR could further raise investor interest in the space. The Hedera (HBAR) network’s fast transaction confirmations and low fees make it stand out from other blockchain projects, making HBAR an attractive option for investors.

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So What’s The Latest Situation in Bitcoin Spot ETF Application?

SEC, Delayed Two Bitcoin ETF Decisions Again!

HashDex applied to convert its Bitcoin futures ETF to a HashDex Spot Bitcoin ETF in September 2023,

After reports in the media suggesting that the SEC may not have examined the initial paperwork thoroughly, Fidelity reapplied for Wise Origin Bitcoin Trust at the end of June.

BlackRock applied for the iShares Bitcoin Trust in June 2023. If approved, this trust will trade on Nasdaq with Coinbase Custody as the crypto custodian and BNY Mellon as the cash custodian.

Grayscale Investments is in the process of converting its spot Grayscale Bitcoin Trust (GBTC.PK) to an ETF. Last August, a federal appeals court decided that the SEC’s rejection of Grayscale’s application to form a spot BTC exchange traded fund was incorrect.

Ark Invest and 21Shares resubmitted the documents for their ARK 21Shares Bitcoin ETF. After the regulator refused the initial prospectus for not meeting fraud and market manipulation prevention requirements on 28 June.

After two previous rejections, WisdomTree submitted a new approval application for the WisdomTree Bitcoin Trust on 20 June.

Valkyrie Digital Assets applied to the SEC to launch the Valkyrie Bitcoin Fund under the acronym BRRR on 21 June.

Invesco and Galaxy Digital reactivated their application for Invesco Galaxy Bitcoin ETF, which they applied for in September 2021.

Finally, Swiss asset management company Pando Asset joined the growing list of companies applying for a Bitcoin Spot ETF.

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WHAT IS AN ETF?

“ETF” stands for exchange-traded fund. Think of it this way: you have a pencil and give the price right to someone, not in a physical sense. The person with the price right buys and sells at the current price of that pencil and makes a profit. But they do not own the pencil. The working mechanism in Bitcoin will be similar. People will be able to buy and sell Bitcoin without the need for large crypto exchanges, even from the stock exchanges they have at hand. This is good news for our market. Because the entry of the middle and older age group into the market may indicate that the volume may increase.

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WHAT TO EXPECT IF THE ETF IS APPROVED?

We are constantly witnessing news that Bitcoin ETFs are being delayed. They will probably use all the possible delay periods. With these short delays, they will also prevent Bitcoin declines.

Let’s first examine the nearest important decision dates together:

Bitwise – October 16 

BlackRock, Fidelity, VanEck, WisdomTree, Invesco – October 17 

Valkyrie – October 19 

Suppose BlackRock got the ETF approval, this company alone manages $10 trillion in assets. The market cap of all cryptocurrencies is only $1 trillion (including altcoins), i.e. 10 times less. We can witness significant increases if these ETF approvals come – which will come in 2024 since we know many SEC members in the US look favorably on approval – we might see a breathless rise to $35-40k. There is also clearly a gap point at $34k.
The approval of ETFs will bring in new investors to the market and also create a sense of security. On the other hand, the expected ‘Mega Bull’ will also significantly increase the market cap of crypto assets.

A non-volatile asset like gold experienced a full %300 increase after ETF approval. What happens if assets with high volatility like the crypto market get this approval? We will learn the answer to this question very soon.

On the contrary, if the ETF is not approved; troublesome days may be awaiting us in the market. We closely witnessed how much decline even the rumor brought. This possibility may be remote because many people in the US are now favorable towards Bitcoin ETFs.

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The post What Happens if ETF Gets Approved? appeared first on Coin Engineer.

The SEC, in its statement following this decision, stated that “The Commission finds it appropriate to set a longer period in order to have sufficient time to assess the proposed changes and any problems that may arise in relation to this.” In addition, ARK21Shares and VanEck have also postponed their ETF applications by the SEC.

Evaluation process for ETF applications should be completed within a maximum of 240 days from the date of entry to the Federal Register.

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Therefore, the SEC could postpone a decision on current applications until the end of 2024. Additionally, considering additional requests for public feedback, there is a chance that they might further delay this decision.

Typically, the SEC can delay decisions by fully using the 240-day period. Therefore, decisions on ETF applications from companies like BlackRock, WisdomTree, Invesco Galaxy, Wise Origin, VanEck, Bitwise, and Valkyrie Digital Assets are expecting to be take by mid-October.

This postponement process leads to a waiting period among investors and companies while allowing for a more detailed examination of applications. While waiting for the results of ETF applications, we will be closely monitoring the upcoming months to see how financial markets will react to these developments.

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