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CoinShares, Grayscale File for XRP, Litecoin, Solana ETFs

CoinShares, Grayscale File for XRP, Litecoin, Solana ETFs

CryptotaleCryptotale2025/01/24 23:33
By:Cryptotale Staff
  • CoinShares files for XRP and Litecoin ETFs to expand crypto investment options.  
  • Grayscale files 19b-4 form for Litecoin ETF and seeks to convert Solana Trust into an ETF.   
  • Crypto ETF filings gain momentum, signaling growing demand in the U.S. markets.  

The race to launch U.S. crypto ETFs has intensified with the latest entries from CoinShares and Grayscale. The U.S. Securities and Exchange Commission (SEC) received filings from Coinshares for Litecoin and XRP ETFs. On the other hand, Grayscale, has also filed for Litecoin ETF with the SEC. Further, it has proposed to convert its Solana Trust into a regularized ETF on NYSE Arca, which would widen the reach to Solana (SOL) for both institutional as well as retail investors. Such developments signify a rush of ETF filings for crypto, thus underscoring the increasing demand for well-regulated digital asset investment vehicles within the U.S. financial landscape.

Coinshares also files for XRP ETF…

I told you all to strap in for 2025. pic.twitter.com/rvZbAUPJiO

— Nate Geraci (@NateGeraci) January 24, 2025

Grayscale’s ETF Filings for Litecoin and Solana

The firm has applied to convert its existing Grayscale Litecoin Trust into a spot LTC ETF. These funds would track the token’s price movements without requiring direct ownership, offering purchasers a simplified and controlled exposure to Litecoin. Notably, the trust collected over 2 million LTC by the end of 2024, an increase from less than 1.5 million at the start of the year. 

Additionally, Grayscale has applied again with the SEC to convert its Grayscale Solana Trust into a spot Solana ETF. This move would enable the trust’s shares to trade as an ETF on NYSE Arca, thereby improving investor accessibility to SOL. The company addressed prior legal concerns by providing detailed updates on custody, structure, and compliance procedures, setting the stage for a comprehensive SEC review.

CoinShares’ Push for Litecoin and XRP ETFs

The organization has also taken steps by filing registration statements for the CoinShares Litecoin ETF and the CoinShares XRP ETF. These ETFs would offer U.S. shareholders exposure to Litecoin and XRP through a mandated structure. 

CoinShares’ XRP ETF aims to capitalize on market interest following the SEC’s recent authorization of physical Bitcoin ETFs, which marked a turning point in favorable attitudes toward digital asset investments. Meanwhile, the CoinShares Litecoin ETF complements Grayscale’s offering, signaling a competitive and growing interest in altcoin-based ETFs.

Related: https://cryptotale.org/coinshares-grayscale-file-for-xrp-litecoin-solana-etfs/

Potential Impact on Litecoin’s Value

The approval of a spot Litecoin ETF could greatly impact LTC’s sector dynamics, as ETF launches for cryptocurrencies have historically driven price appreciation due to increased accessibility and corporate participation. Grayscale’s growing LTC valuation, now exceeds 2 million coins, indicating confidence in its potential. 

The post CoinShares, Grayscale File for XRP, Litecoin, Solana ETFs appeared first on Cryptotale.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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