"Cboe & Tuttle Propose Crypto ETFs, Institutional Interest Surges"

Institutional interest surges as Cboe and Tuttle Capital propose new crypto ETFs to the SEC

Cboe Global Markets and Tuttle Capital Management have jointly filed a proposal with the U.S. Securities and Exchange Commission (SEC) to introduce two new exchange-traded funds (ETFs) focused on cryptocurrencies. The proposed ETFs aim to provide investors with exposure to the digital asset class through a regulated and familiar investment vehicle.

The first ETF, the Cboe S&P 500 Cryptocurrency Index ETF, will track the performance of the S&P 500 Cryptocurrency Index, which includes the largest and most liquid cryptocurrencies. The second ETF, the Tuttle Capital Crypto Index ETF, will track the performance of the Tuttle Capital Crypto Index, which is designed to provide exposure to a diversified portfolio of cryptocurrencies.

Both ETFs will be passively managed and aim to provide investors with a low-cost, efficient way to gain exposure to the cryptocurrency market. The proposal comes as institutional interest in cryptocurrencies continues to grow, with many investors seeking regulated and familiar investment vehicles to access the digital asset class.

The SEC is expected to review the proposal and make a decision on whether to approve the new ETFs. If approved, the ETFs could provide a significant boost to the cryptocurrency market and attract more institutional investors to the digital asset class.

In related news, the crypto market has seen significant outflows from exchange-traded products (ETPs) in recent days, with Bitcoin and Ethereum ETPs experiencing outflows of $442 million and $99 million, respectively. Total crypto ETP outflows topped $534 million, marking one of the more dramatic single-day movements in recent memory. However, XRP did not follow the trend, with ETPs seeing $2.1 million in inflows on the same day.

Meanwhile, Solana ETF excitement is sweeping the crypto community, as investors eagerly await a final regulatory decision that could introduce Solana to traditional market platforms. XRP is holding strong near $3.12, signaling some stability in the face of past volatility. Panshibi, a fresh and fun meme coin, continues to gather steam among crypto enthusiasts.

Ondo