Analysis: Currently, the total number of pending Crypto Assets ETF applications awaiting SEC approval exceeds 90, with the highest likelihood of approval being for the Avalanche ETF.

Golden Finance reported that on Tuesday, a large number of Crypto Assets ETF applications were submitted to the U.S. SEC, with a total of five different documents covering multiple areas from Avalanche infrastructure to Bonk (BONK). An analyst stated that this has entered a "wild" zone. According to Nate Geraci, co-founder of the ETF Institute, this application lineup includes: Bitwise submitted a spot Avalanche ETF and a stablecoin with a tokenized ETF; Defiance ETFs submitted a Basis Trade ETF based on Bitcoin and Ethereum; The Income Blast fund submitted by Tuttle includes Bonk (BONK), Litecoin (LTC), and Sui (SUI); T-Rex submitted a 2x leveraged Orbs ETF. These new applications bring the total number of cryptocurrency ETF applications currently awaiting SEC approval to over 90. Apollo Crypto Research Director Pratik Kala stated: "The likelihood of a spot AVAX ETF being approved is the highest, as it is simpler compared to other products." Bitwise has also joined VanEck and Grayscale in seeking to provide institutional investors with the opportunity to allocate to an AVAX ETF.