Laser Digital, a division of Nomura, predicts that 2025 could witness significant growth in cryptocurrency exchange-traded funds (ETFs), with more than 12 new digital asset ETFs potentially launching in the U.S. This would be contingent on approvals from the Securities and Exchange Commission (SEC), as detailed in a recent report by the firm.

So far, 12 filings have been submitted to the SEC, and these proposed ETFs cover a range of assets, including a ProShares ETF that would track the S&P 500’s returns in bitcoin, as well as mixed bitcoin and ether ETFs, plus products based on Solana, XRP, and Litecoin.

Laser Digital anticipates that the bitcoin/ether ETF could be the first to gain approval. The success of the spot bitcoin ETFs launched last year, particularly BlackRock’s iShares Bitcoin Trust (IBIT), which amassed $53 billion in assets in just under a year, has created an optimistic outlook for future ETFs.

The regulatory landscape may also become more favorable, with the potential appointment of crypto-friendly Paul Atkins as SEC chairman replacing Gary Gensler. The report suggests that ongoing litigation against crypto companies is likely to diminish, making the approval process smoother for upcoming ETFs.

As the ETF market continues to grow in terms of assets under management, Laser Digital expects that institutional investors will increasingly embrace crypto ETFs in 2025. Additionally, the potential return of President-elect Donald Trump and a regulatory team supportive of cryptocurrencies could further boost adoption in the coming year.

Grayscale, another major player in the digital asset space, is also eyeing the ETF route, revealing plans in December to convert its Grayscale Solana Trust (GSOL) into an ETF, reflecting the continued push for more accessible crypto investment vehicles.