If approved, the ETFs could begin trading as early as September. While regulatory approval is not guaranteed, the filing signals growing institutional comfort with marrying traditional equities and cryptocurrency in regulated wrappers.

These filings follow the recent debut of BlackRock’s Income ETF, which allows institutions to monetize cryptocurrency’s volatility. The 11 spot bitcoin ETFs in the U.S. have pulled in more than $53 billion in investor capital since their inception in 2024, according to SoSoValue data.

Taken together, these developments point to continued institutional appetite for bitcoin despite the bear market. The BTC price peaked at $126,000 in October last year and was recently trading below $62,500.

The price has…