According to @EricBalchunas, there are 124 crypto ETFs still in registration by coin, indicating a large pipeline into 2026 that traders should track for product supply and liquidity impacts (source: Eric Balchunas on X, Dec 11, 2025). He adds that a tidal wave of launches will likely be followed by liquidations as weaker funds fail to gain traction, pointing to an industry shakeout that could shift assets and volumes across products (source: Eric Balchunas on X, Dec 11, 2025). He cites the 2026 ETF Outlook section by @JSeyff, framing near-term supply expansion and subsequent consolidation as key variables for crypto ETF liquidity and fee dynamics (source: Eric Balchunas on X, Dec 11, 2025).