Spot Bitcoin ETFs now hold nearly $150 billion in assets, showing that big investors are still very interested in crypto, even with market ups and downs. This strong growth is partly thanks to companies adding Bitcoin to their balance sheets.
For example, Figma recently shared in its IPO filing that it owns $70 million worth of Bitcoin ETFs and has set aside another $30 million in USDC to buy Bitcoin directly.
At the same time, crypto ETFs are starting to grow beyond just Bitcoin. On July 2, the first staked Solana ETF was launched. This is a big step forward because it lets investors earn staking rewards while still enjoying the safety and ease of traditional ETFs. This could open the door for more staking-based ETFs, with Ethereum likely next as regulators become more comfortable with how staking works.
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More companies are starting to add crypto to their treasury, and many of them are seeing their stock prices go up after making those announcements. This positive reaction from the market could lead more companies to do the same in the near future, creating a cycle where adoption pushes prices higher, and higher prices encourage more adoption.
At the same time, the list of new crypto ETF applications keeps growing. ETFs for coins like XRP and Dogecoin have already been filed and are waiting for approval. The recent success of staking ETFs might help speed up the process, especially for new ETFs that offer ways to earn passive income. This could attract more traditional investors who are looking for stable returns.
