Core Insights - The U.S. SEC is experiencing a surge in crypto ETF filings despite a government shutdown that has stalled decision-making processes [1][2] - Asset managers are racing to secure approvals for new crypto ETFs before the end of the year, with at least five new filings submitted recently [1][3] Group 1: New ETF Filings - VanEck has filed for the VanEck Lido Staked Ethereum ETF, which aims to track the performance of stETH, a liquid staking token from Lido [3] - Lido currently holds approximately 8.5 million ETH, valued at around $31 billion, and offers a staking yield of 3.3% [4] - 21Shares has filed for a leveraged crypto ETF that provides 2x exposure to the Hyperliquid token (HYPE), showcasing innovative ETF structures [4][5] Group 2: Existing ETF Strategies - ARK Invest has introduced three new Bitcoin ETFs, including the ARK Bitcoin Yield ETF, which focuses on income through yield-based strategies [5][6] - The ARK DIET Bitcoin ETFs are designed to offer partial downside protection based on Bitcoin's price movements [6] - Volatility Shares has submitted filings for a range of 3x and 5x leveraged ETFs linked to both crypto and major U.S. stocks [6] Group 3: Regulatory Concerns - The recent filings include the first-ever 5x ETF proposal in the U.S., raising questions about compliance with the SEC's Derivatives Rule, which limits leverage to 2x [7] - SEC officials have expressed uncertainty regarding whether these new ETFs would adhere to existing leverage regulations [7]