Altcoin ETFs

One move to keep an eye on in the coming months: Whether or not more crypto-based ETFs hit the market.

Why it matters: These products would put many more cryptocurrencies at the fingertips of more traditional investors who want to make trades in their brokerage accounts.

The latest: Grayscale (the firm that won the fight for the bitcoin ETF) has proposed an ETF for the Cardano blockchain coin, ADA.

Zoom out: Lots of these have been proposed. Here are a few others, as examples.

• Grayscale also has a proposal in for a solana (SOL) ETF, and the SEC has acknowledged its existence.
• It also has a dogecoin (DOGE) application in.
• And Canary Capital has one in for litecoin (LTC), as well as others.
• Lots of people are trying to get into this space in case a door opens.

Fun fact: There's even a proposed ETF for meme coins, which — yes — would include Official Trump and Melania Meme.

Between the lines: If the SEC has said anything about altcoin ETFs, I have not seen it.

• But SEC Commissioner Peirce was clear that investors have every right to lose money on silly things if that's what they want to do.

The big picture: The bitcoin ETF was a wild success. The ether ETF, however, was much more muted.

• If investors went wild for the Coke of crypto but yawned at the Pepsi, just imagine their reaction to the Dr Pepper, RC Cola and Mr. Pibb of the crypto world.

💭 Our thought bubble: Through the closing days of the Gensler era, folks were acting like these had a chance. I never wrote about them because I never bought that, but it's a different SEC now.