The crypto ETF list: every US fund, by asset and by structure

The rule change that opened the pipeline

For most of a decade, listing a crypto fund in the United States meant a bespoke fight. An exchange filed a 19b-4 rule change asking permission to list one specific product, the SEC took its statutory time, and the clock could run to roughly 240 days before an order arrived. Spot bitcoin funds needed a court loss at the D.C. Circuit before that process produced a yes. Ether followed in May 2024. Everything else waited.

That ended on 17 September 2025, when the Commission approved generic listing standards for Commodity-Based Trust Shares in Release No. 34-103995. NYSE Arca, Nasdaq and Cboe BZX each gained a rule letting them list a qualifying product with no individual 19b-4 at all. The issuer still has to get its S-1 declared effective — that part did not change — but the exchange side collapsed from a negotiation into a checklist.

A commodity qualifies by meeting any one of three prongs. It can trade on a market that belongs to the Intermarket Surveillance Group, satisfying the surveillance-sharing concern that sank so many earlier filings. It can underlie a futures contract that has traded on a CFTC-designated contract market for at least six months. Or, on an initial basis only, an ETF already listed on a national exchange can provide at least 40% of its net asset value in economic exposure to that commodity.

The second prong is the workhorse. Once Coinbase Derivatives or the CME lists a futures contract on a token, a six-month clock starts running, and at the end of it the token is effectively pre-cleared for a spot ETF. That is the whole mechanism behind the late-2025 wave: Solana funds from October, XRP from November, then Hyperliquid, Chainlink, Sui, HBAR, Dogecoin, Litecoin, Avalanche, Polkadot and BNB in quick succession. Grayscale uplisted its CoinDesk Crypto 5 trust to NYSE Arca on 19 September 2025 — two days after the standards took effect. Nobody was waiting.

Spot Bitcoin funds

Twelve funds hold bitcoin directly on a US exchange, and they still account for the overwhelming majority of money in the category — about $99.6bn on 31 August 2026, against roughly $1.5bn each in the Solana and XRP groups. This is a summary. The full table, with custodians, coin counts, listing venues and the closure that ended the category's perfect survival record, lives on the Bitcoin ETF list.

Two structural facts carry across the whole page. These are grantor trusts registered under the Securities Act of 1933, not registered investment companies under the Investment Company Act of 1940, so the 1940 Act protections most investors assume — an independent board with fiduciary duties, statutory leverage limits, mandated diversification — simply do not apply. And roughly 80.8% of all ETF-held bitcoin sits with a single custodian. Our regulation guide sets out exactly what you do and do not get in that wrapper.

Spot Ethereum funds

Eleven spot ether funds trade in the US, and they are the only group where the funds are not interchangeable. Staking splits them in two. Four are confirmed live stakers as of 2 September 2026 — Grayscale's ETHE and its Mini Trust, BlackRock's separate ETHB wrapper, and 21Shares' TETH. The rest hold ether and nothing else, with five amendments still sitting at the SEC. A staked fund and an unstaked one tracking the same asset can produce materially different total returns, which is why we give the subject its own page.

The one number worth carrying away from this table is 2.50%. Grayscale's ETHE charges it, and it was the first US crypto ETP to actually distribute staking rewards in cash — a genuine first, at a genuinely punishing price. Morgan Stanley's MSSE arrived on 27 July 2026 at 0.14% and moved the fee floor for the whole asset class. We compare all eleven properly on the Ethereum ETF list.

Spot Solana funds

Solana was the first asset through the new door and it shows: ten funds, roughly $1.49bn in the category in late August 2026, and a record weekly inflow of about $153m in the week ending 28 August 2026. Bitwise's BSOL is the clear leader and crossed $1bn on 28 August 2026.

Two funds in this table predate the generic standards and reached the market by other routes, which is worth knowing before you buy either. SOLZ is futures-based rather than spot and charges 1.64%. SSK registered under the Investment Company Act of 1940 instead of as a commodity trust — a deliberate detour around the approval queue that arrived in July 2025, months before anyone else. It costs 0.75%.

Spot XRP funds

Six funds, roughly $1.53bn between them, and an unusually clean example of how quickly early leadership can change hands. Canary's XRPC listed first among the spot funds on 13 November 2025 and led on assets for months. Bitwise's XRP overtook it on both assets and tokens held by late August 2026, passing $500m on 31 August with something like 365 million XRP.

One correction, because it circulates constantly: there is no live VanEck XRP ETF. VanEck runs Solana, Avalanche, BNB and ether products, but not XRP, and tables that list one are wrong.

One universe, many wrappers

The single-asset long tail

This is where the generic standards produced the most funds and the least money. Sixteen single-token products beyond ether, Solana and XRP now trade in the US, covering Hyperliquid, Chainlink, Sui, HBAR, Avalanche, Dogecoin, Polkadot, Litecoin and BNB. Three issuers built most of them: Grayscale, Bitwise and 21Shares, with Canary Capital taking the assets nobody else wanted.

Multi-asset index funds

Six funds offer a basket instead of a single token, and they are the most misunderstood group on this page. The pitch is diversification. The holdings say otherwise.

Look at the last column and the argument makes itself. BITW is 77.3% bitcoin and 13.9% ether. NCIQ is 78.3% bitcoin. EZPZ is 77.2%. In each case the top two assets are somewhere between 90% and 91% of the fund, and everything below Solana — Cardano, Chainlink, Stellar, Litecoin, Sui — sits under 1% apiece. You are not buying a crypto market portfolio. You are buying bitcoin with a rounding error attached.

Which produces the mistake we see most often. Someone owns IBIT at 0.25%, decides they want broader exposure, and adds BITW at 0.75% for diversification. In practice roughly three-quarters of that new money is more bitcoin, now costing three times as much to hold. The genuinely new exposure — the 20-odd percent that is not BTC — is being bought at a blended rate that would embarrass a fund-of-funds prospectus.

If you want the basket, the cost question has one obvious answer. EZPZ charges 0.19% for a portfolio that is functionally indistinguishable from BITW's at 0.75%. Its problem is size — about $18m, which puts it squarely in the fee-starved zone described above, and that is a genuine trade-off rather than a free lunch. NCIQ at 0.25% and $434m is the middle path: three times EZPZ's fee, a quarter of BITW's, and enough assets to look durable. We set out which of these suits which investor on the best crypto ETFs page.

Funds that do not hold coins

Everything above holds the asset. What follows does not, and mixing the two into a single table is how comparison sites produce something that looks authoritative and misleads. Each structure gets its own page here, because each fails in its own particular way.

Futures funds

Seven funds hold CME contracts rather than coins, led by ProShares' BITO at $1.66bn — the first US bitcoin-linked ETF, listed in October 2021. Because futures expire, these funds must roll, and in a contango market each roll sells a cheaper contract to buy a dearer one. Add a 0.95% fee to that drag and you have the reason spot funds destroyed the category within months of launching. One correction worth carrying: Bitwise's BITC is no longer an optimum-roll fund. It abandoned curve optimisation on 3 December 2024 and now rotates between front-month futures and Treasuries on a moving-average signal. Full detail on the futures ETF page, and the structural comparison sits on spot versus futures.

Leveraged funds

Six 2x long funds trade, plus a set of leveraged altcoin and single-stock products. The multiple applies to one trading day and resets every session, so the drag in a choppy market is structural rather than bad luck — roughly the square of volatility a year at 2x, which with bitcoin's realised volatility means something like 25% to 50% annualised erosion in a sideways market. The fee spread here is remarkable too: Volatility Shares charges 2.75% for BITX while ProShares charges 0.98% for BITU, for economically similar exposure. See leveraged Bitcoin ETFs for the decay arithmetic.

Inverse and short funds

Eight funds give you short exposure without a margin account, from ProShares' unleveraged BITI at $123m to −2x products on bitcoin, ether, Strategy and Coinbase stock. The same daily reset applies, and it is harsher on the short side. Two corrections: SBIT and ETHD are ProShares funds, not T-REX ones — the T-REX equivalents are BTCZ and ETQ — and the ticker "MSTQ" does not exist. See inverse Bitcoin ETFs.

Income and covered-call funds

Eight crypto option-income funds trade, headed by NEOS's BTCI at $1.30bn. Most of them do not own any bitcoin: they build synthetic long exposure from options on a reference ETP, then sell calls against it. Upside is capped, downside is not, and the headline distribution rates are annualised from a single recent payment, so they rise when net asset value falls. The cleanest tell in the whole category is BTCI's 26.73% distribution rate against a 30-day SEC yield of 1.62%, both on 31 July 2026. See Bitcoin income ETFs for what return of capital actually means on your statement.

Mining and crypto equity funds

Nine funds hold company shares rather than coins — miners, exchanges, stablecoin issuers, payment firms. They are equity funds with equity risk, and their correlation to bitcoin varies enormously depending on what is inside. Two of the three dedicated miner funds are currently pivoting toward AI and data-centre exposure, which changes what you own without changing your ticker. See mining and crypto equity ETFs.

How to read this universe

Four habits will keep you out of most of the trouble on this page.

1. Establish what the fund holds before you look at anything else

   Coins, futures, swaps, options or company shares. That single fact determines the risk, the tax treatment and whether the fee is even comparable. A spot fund at 0.20% and an option-income fund at 0.99% are not competing products.

2. Treat assets under management as a survival indicator, not a quality one

   Size does not make a fund better. It makes it more likely to still exist in three years, and it usually means a tighter spread. Below about $50m, ask what the sponsor is earning.

3. Check the ticker against the exchange

   Grayscale's Mini Trust trades as BTC. Grayscale's covered-call fund trades as BTCC — and so does Purpose Investments' Canadian spot bitcoin ETF, which is a completely different product on the Toronto Stock Exchange. Non-US listings also carry their own tax consequences for US holders.

4. Read the fee waiver's expiry, not its headline

   TETH's fee is fully waived until 8 October 2026. TSOL's runs to July 2027. VanEck's HODL showed what happens when a waiver tied to an asset threshold lapses with the fund well short of it — holders simply woke up paying full price. The fee page tracks the standing rates.

One last point that catches people out at tax time. Staking rewards inside a fund are not free money. Under Revenue Ruling 2023-14 the fair market value of rewards is income when the taxpayer gains dominion and control over them, and funds that distribute rewards in cash pass that treatment down to you. Our tax guide covers how this interacts with the grantor-trust structure, and why the widely repeated 28% collectibles rate is a myth for these funds.