The U.S. Securities and Exchange Commission (SEC) has acknowledged multiple crypto ETF filings over the past two days, marking a significant acceleration in the agency’s review and approval process. According to regulatory submissions from Feb. 19 and Feb. 20, exchanges Nasdaq ISE and Cboe BZX have filed proposals covering staking, options, in-kind redemptions, and new altcoin ETFs.

This wave of filings signals a shift in the SEC’s stance on crypto regulation since President Donald Trump began his second term on Jan. 20. The agency’s softened approach has already led to the launch of two crypto index ETFs in February, with analysts predicting a surge in approvals throughout 2025.

Nasdaq’s filing focuses on adjusting position and exercise limits for options on BlackRock’s iShares Bitcoin Trust (IBIT), the dominant spot Bitcoin ETF with nearly $57 billion in assets. Meanwhile, Cboe is pushing to list options on Grayscale’s and Bitwise’s Ether ETFs, which remain unapproved despite prior green lights for Bitcoin ETF options.

In addition, Cboe has proposed listing XRP ETFs from Canary and WisdomTree, supporting in-kind creations and redemptions for Fidelity’s Bitcoin and Ether ETFs, and allowing 21Shares’ Ether ETF to stake a portion of its holdings. The SEC is actively investigating staking, with sources suggesting new regulatory guidance is imminent.

In-kind redemptions, which enable ETF issuers to exchange shares for underlying assets in a tax-efficient manner, remain a point of contention. While preferred by issuers and investors, they have yet to receive SEC approval for spot crypto ETFs.

Analysts from Bloomberg Intelligence estimate a 65% chance of an XRP ETF approval in the U.S., with even higher odds for Litecoin (90%) and Solana (70%). The SEC’s acknowledgment of Cboe’s request to list 21Shares’ XRP ETF further indicates growing acceptance of altcoin ETFs.

Meanwhile, Coinbase launched Solana futures contracts on its U.S. derivatives exchange on Feb. 19, strengthening the case for SOL ETF approvals. On Feb. 20, Franklin Templeton debuted an ETF holding both Bitcoin and Ether, making it the second crypto index ETF to enter the market this month, following Hashdex’s Nasdaq Crypto Index US ETF.

Under former President Joe Biden, the SEC resisted broader crypto ETF adoption, limiting approvals to Bitcoin and Ether. Now, under Trump’s leadership, the agency appears poised to embrace a more expansive approach, setting the stage for a major transformation in the crypto investment landscape.