In an unprecedented move, asset manager Direxion has filed for 92 exchange-traded funds in a single batch, potentially setting a world record. The filing arrives during a period of extraordinary activity in the ETF space, particularly around digital assets.
According to Bloomberg Intelligence analyst James Seyffart, 92 crypto ETFs are currently awaiting SEC approval as of late August 2025. Twenty new applications were submitted in just four months alone, reflecting an institutional appetite for altcoin exposure that has moved well beyond Bitcoin and Ethereum.
Solana leads the pack with eight pending ETF applications. XRP follows closely with seven. Other filings target tokens like Litecoin. Most of these pending applications are due for final SEC action by October 2025, creating a concentrated window for regulators.
Direxion has already been active in the leveraged crypto product space. The firm previously launched the Daily Bitcoin Bull 2X ETF and the Daily Ether Bull 2X ETF, designed for amplified exposure.
To handle the surge, exchanges are building the rails. In July 2025, Cboe BZX, Nasdaq, and NYSE Arca proposed standardized listing criteria for digital asset ETFs, aiming to create a repeatable framework to accelerate approvals.