Group 1 - GSR has filed for an exchange-traded fund (ETF) focused on cryptocurrency treasuries, along with proposals for four additional funds targeting Ethereum and staking [1][7] - The GSR Digital Asset Treasury Companies ETF will allocate at least 80% of its assets to companies that hold cryptocurrencies in their corporate treasuries, initially targeting 10-15 positions [2][4] - The filing includes examples of treasury companies such as MicroStrategy, which holds approximately 640,000 Bitcoin valued at nearly $73 billion, and other firms like Bitmine Immersion and SharpLink [5][6] Group 2 - GSR's recent initiatives reflect a growing trend in cryptocurrency treasuries, expanding beyond Bitcoin to include assets like Ethereum, Solana, XRP, and TON [4] - The company has recently established a U.S. asset management division and led a $100 million funding round for Upexi to develop a Solana treasury [6] - The SEC is currently reviewing over 90 applications for various crypto ETFs, indicating a more favorable regulatory environment for such products [7][8]

The @tidalfg Quantify 2X Daily AltAlt Season Crypto ETF, proposed to the SEC on Thursday, confounded even some of the fund industry's sharpest observers. Here's why. https://t.co/DsY9APNlXH ...

Core Insights - The emergence of innovative crypto fund proposals reflects the increasing demand from investors for diverse cryptocurrency products [1][5] - Tidal Financial Group has filed for a unique "AltAlt Season" exchange-traded fund, which aims to capitalize on market trends where mid-sized and smaller altcoins outperform Bitcoin [1][4] - The SEC is currently reviewing over 90 submissions for various leveraged crypto ETFs, indicating a growing interest in this segment [5][6] Fund Details - Tidal's application includes three leveraged funds: Quantify 2X Daily AltAlt Season Crypto ETF, Quantify 2X Daily All Cap Crypto ETF, and Quantify 2X Daily Alt Season Crypto ETF, all targeting risk-tolerant investors [2][3] - The AltAlt fund will initially track the performance of XRP and Solana, while the Alt ETF will include Ethereum, and the All Cap strategy will cover Bitcoin as well [3][4] - These funds are designed to provide two times the daily return of the cryptocurrencies they hold, distinguishing them from traditional ETFs [2][3] Market Context - "Alt seasons" refer to periods when altcoins, particularly Ethereum and others, outperform Bitcoin, while "Alt alt seasons" focus on smaller-cap tokens [4] - The SEC's recent approval of new listing standards for commodity-based trusts has improved the chances of approval for these crypto ETFs, reflecting a more favorable regulatory environment [6]