'AltAlt Season' ETF? 🤔

A proposed crypto ETF would skip both Bitcoin and Ethereum, confounding fund experts and hinting at a wild wave of filings to come.

Author

Andrew Hayward
September 20, 2025

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📝 What you need to know

Get ready for a potentially wild wave of crypto ETFs.

We got a fresh glimpse of that dynamic this week when Tidal Financial Group filed with the SEC for approval to debut a Quantify 2X Daily AltAlt Season Crypto ETF. The leveraged fund targets risk-tolerant investors with an offering that skips both Bitcoin and Ethereum, and starts off by tracking the performance of XRP and Solana.

“Alt season” is a common crypto term for when Ethereum and other coins besides Bitcoin get hot, but “alt alt season” is less pervasive. But there could soon be a fund for betting on it, pending SEC approval. The filing grabbed the attention of ETF experts this week, suggesting potential for an even wider array of crypto funds to come.

"We're already at 2x AltAlt Season Crypto ETFs and it's not even October,” Bloomberg Senior ETF Analyst Eric Balchunas wrote on X. “Do you realize how crazy things are gonna get?"

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