21Shares, Teucrium File FTSE Crypto 10 and Ex-BTC ETFs under 1940 Act
21Shares and Teucrium have filed two crypto ETF proposals with the SEC under the Investment Company Act of 1940: the FTSE Crypto 10 Index ETF to track a market-cap-weighted basket of the top ten digital assets, and the FTSE Crypto 10 ex-BTC Index ETF excluding Bitcoin to focus on leading altcoins. The filings leverage recent regulatory clarity from the GENIUS Act and mirror the structure of Rex-Osprey’s Solana staking ETF. Institutional demand for crypto ETFs remains strong: spot Bitcoin ETFs garnered $799.4 million in net inflows on July 16 and over $53.8 billion cumulatively, while Ethereum ETFs set a one-day record with $726.7 million. Analysts expect these SEC filings to broaden U.S. investor access to crypto ETFs, enhance portfolio diversification, and further integrate digital assets into traditional finance.
Bullish
The proposals are bullish for the crypto market. In the short term, SEC filings under the Investment Company Act and the GENIUS Act boost confidence and may trigger immediate inflows into both Bitcoin and ex-BTC ETFs. The strong institutional demand evidenced by recent record net inflows supports positive momentum. Over the long term, diversified ETF products can broaden the investor base, reduce Bitcoin dominance, and stabilize trading volumes, as historical ETF approvals have driven sustained asset price support and deeper market participation.