The post Grayscale Filed For ETFs Tracking Cryptocurrencies like Litecoin, XRP! CoinShares Joins The List appeared first on Coinpedia Fintech News
A wave of excitement is building in the cryptocurrency industry as giant asset managers are doubling down on their pursuit of altcoin-focused exchange-traded funds (ETFs). Big players like Grayscale and CoinShares are pushing for ETFs focused on Litecoin, XRP, and Solana. Could this be the turning point for crypto ETFs in 2025?
Grayscale’s New ETF Filings
Nate Geraci, the President of The ETF Store, recently pointed a key development in a tweet. He pointed out that the New York Stock Exchange (NYSE) had filed a 19b-4 form to list and trade Grayscale’s Litecoin Trust. These new filings are aiming to fix some of the issues that caused problems for crypto investments in the past, like ensuring security and clear rules around custody.
However, the proposed Litecoin ETF would follow the price of Litecoin without investors needing to actually own the coins. It’s a step up from Grayscale’s existing Litecoin Trust, and it could make it easier for people to invest in Litecoin without the usual complications.
Meanwhile, Grayscale is also hoping to convert its Grayscale Solana Trust into a Solana ETF. The SEC was supposed to make a decision on this by January 23, 2025, but there hasn’t been any public comment yet.
This silence might mean the SEC is taking its time to carefully consider the proposal, perhaps under new guidelines and a fresh perspective.
CoinShares Joins the Race with Litecoin and XRP ETFs
Not far behind, CoinShares has also filed for two new ETFs, one for Litecoin and another for XRP. CoinShares is hoping to bring crypto closer to traditional investments, allowing more people to access the market through these new funds.
Other companies like Bitwise, ProShares, WisdomTree, and REX Shares have also filed for XRP ETFs, showing that the demand for these kinds of investment products is growing quickly.
New Era for Crypto ETFs
These filings are happening at a time of big change in the U.S. government. With President Trump taking office on January 20, 2025, many believe the SEC will adopt a crypto friendlier approach.
Former SEC Chair Gary Gensler stepped down recently, and President Trump appointed Paul Atkins, a former regulator who is known for supporting cryptocurrencies, to lead the SEC.
Price Analysis: XRP, LTC, Sol
Despite the enthusiasm surrounding the ETF filing, the altcoin has shown a mixed response in the market. XRP, one of the top cryptocurrencies, is finding support and might be ready to break out of its consolidation phase, with its price staying around $3.13.
Meanwhile, following the recent ETF filings, Litecoin’s price surged to $125, showing a 9% increase in just one day, bringing its market cap to $9.4 billion.
On the other hand, Solana is trading steadily at around $252.