Multiple institutions submit over 20 cryptocurrency ETF applications on the same day

Jinse Finance reported that multiple institutions, including REX Shares and Osprey Funds, have collectively submitted at least 21 crypto-related ETF applications to the U.S. Securities and Exchange Commission (SEC), covering tokens such as SUI, BCH, HYPE, and various staking products. Defiance ETFs has also filed for leveraged funds tracking cryptocurrencies as well as Tesla and Amazon. This wave of applications comes after the SEC approved rule changes for three exchanges regarding the listing of commodity trust shares. The rule change exempts the relevant ETFs from the 19b-4 review process, significantly shortening the time to market for these products. Bloomberg Intelligence analyst James Seyffart commented on social media: "Things are getting crazy." Although the regulatory environment has become more favorable since President Trump took office, and some earlier ETF applications are approaching their approval deadlines in the coming weeks, the current process has stalled due to the U.S. government shutdown starting October 2. According to sources, the SEC is likely to suspend processing of crypto ETF registration statements until the government resumes operations.