LTC News: CoinShares Seeks Approval for Spot Litecoin and XRP ETFs

In a significant development within the cryptocurrency regulatory landscape, CoinShares has submitted applications for spot ETFs for Litecoin (LTC) and XRP. This move underscores a growing confidence among asset managers in the potential of altcoin investment offerings. The applications come at a time when the US ETF market is increasingly focusing on cryptocurrency investments, following recent approvals that have paved the way for more crypto-based financial products.

CoinShares Seeks Approval For Spot Litecoin And XRP ETF In Latest Market Move

In a notable change in the crypto regulatory environment, asset managers are regaining confidence in their pursuit of ETFs. Significantly, CoinShares submitted applications for a spot XRP ETF and a Litecoin (LTC) fund, indicating an increasing enthusiasm for altcoin investment offerings. CoinShares’ submission arises as the US ETF market is progressively concentrating on cryptocurrency investments, after the approval and resulting success of funds investing in Bitcoin (BTC) and Ethereum (ETH) in 2024. The firm has submitted an S-1 registration statement to the Securities and Exchange Commission (SEC) to launch the XRP ETF, aimed at providing investors with direct exposure to the market’s second largest altcoin. Additionally, CoinShares is expanding its offerings by targeting Litecoin, further diversifying the cryptocurrency investment options available to investors.

Grayscale Moves To Launch Spot Litecoin And Solana ETF – Details

Grayscale Investments has filed for a Solana ETF with the New York Stock Exchange (NYSE), reflecting a growing wave of pro-crypto regulations under President Donald Trump. The proposed Trust is the largest Solana investment fund globally, boasting approximately $134.2 million in assets under management, which represents about 0.1% of all Solana (SOL) in circulation. Currently, the Trust is not listed as an exchange-traded product (ETP), which has reportedly hindered its Shares from closely tracking the underlying value of SOL. Grayscale believes that converting the Trust into a spot Solana ETF will offer a safer and more secure investment vehicle for investors, enabling them to trade on a regulated national securities exchange.

Grayscale Files for Solana and Litecoin ETF With the SEC

Grayscale has filed for a Solana and Litecoin ETF with the SEC, following a surge in applications since Gary Gensler's resignation. The firm's 'Bitcoin Adopters ETF' and synthetic Ethereum ETF are also part of this trend. The regulatory approval for these products remains uncertain. Grayscale's move marks the second filing for a Litecoin ETF, with Canary Capital being the first. Despite a recent price spike in Litecoin due to ETF rumors, Grayscale's application has not significantly impacted the market. The SEC has shown signs of potentially approving a Litecoin fund, with Nasdaq filing to list it if approved.