S&P Crypto 10 ETF Could Redefine Institutional Crypto Exposure

The filing, submitted to the U.S. Securities and Exchange Commission on January 12, signals that competition in the race to launch diversified crypto ETFs is accelerating rapidly.

If approved, the product would track a basket of ten major cryptocurrencies, offering investors broad exposure to the digital asset market through a single, regulated vehicle. The move comes as asset managers push beyond single-asset Bitcoin and Ethereum ETFs toward multi-asset crypto strategies aimed at both retail and institutional investors.

Inside the proposed crypto basket

According to the filing, the ETF’s portfolio is heavily weighted toward the two largest cryptocurrencies by market capitalization. Bitcoin accounts for approximately 69% of the basket, while Ethereum represents 14%, underscoring the continued dominance of these assets in institutional-facing products.

The remaining allocation is spread across a range of major altcoins, including XRP at 5%, Binance Coin at 4%, Solana at 2%, and smaller positions in TRON, Cardano, Bitcoin Cash, Chainlink, and Stellar. While these allocations are comparatively modest, they provide exposure to different blockchain ecosystems, use cases, and network designs within a single product.

This structure positions the ETF as a “core crypto index” style product rather than a speculative altcoin fund, closely mirroring how traditional equity index products concentrate weight in market leaders.

The race for crypto basket ETF dominance

The filing highlights a broader shift underway in the U.S. crypto ETF market. After the approval of spot Bitcoin ETFs and growing momentum around Ethereum-based products, issuers are now racing to be first with diversified crypto baskets that could appeal to long-term allocators.

An S&P-linked crypto basket would carry additional branding and index credibility, potentially making it more attractive to institutions that are already familiar with traditional S&P benchmarks. If regulators approve such products, they could play a major role in shaping how capital flows into the digital asset market over the next cycle.

While approval timelines remain uncertain, Cyber Hornet’s filing underscores one clear trend: the battle for crypto ETF supremacy is moving beyond single assets and into index-style products designed for scale, diversification, and mainstream adoption.

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