Grayscale and CoinShares target new crypto ETFs including Litecoin, Solana, and XRP

Key Takeaways

Grayscale and CoinShares have utilized for ETFs together with Litecoin, Solana, and XRP.
Approval of those ETFs would develop regulated funding choices for crypto property.

Grayscale Investments and CoinShares have filed for a number of crypto exchange-traded funds, focusing on property together with Litecoin, Solana, and XRP as each corporations search to develop regulated funding choices.

Grayscale has submitted functions for ETFs monitoring each Litecoin and Solana. The Litecoin ETF would observe LTC’s worth actions with out requiring direct possession, constructing on the agency’s present Litecoin Belief product.

Grayscale beforehand filed to transform its present Grayscale Solana Belief (GSOL) right into a spot Solana ETF, with the SEC’s choice initially scheduled for January 23.

Nevertheless, no public remark or motion was issued by the SEC, suggesting the potential of an prolonged overview deadline.

In its newest submitting, Grayscale seems to deal with earlier regulatory considerations and supply further readability relating to the ETF’s construction, custody, and compliance measures.

This transfer may doubtlessly permit the SEC to revisit the proposal with a extra complete framework for analysis.

CoinShares has joined the race with its personal filings for a Litecoin ETF and an XRP ETF. The XRP ETF, as outlined in its SEC submitting, goals to copy the efficiency of XRP whereas simplifying the challenges of direct custody.

Equally, different funds, together with Bitwise, ProShares, WisdomTree, and REX Shares, have submitted filings for XRP ETFs.

These filings come on the heels of President Trump taking workplace on Monday and establishing a pro-crypto SEC, with Mark Uyeda serving as interim SEC Chair.

The SEC, beneath the brand new administration, has launched a devoted crypto job pressure to develop a regulatory framework for digital property.

Final 12 months, the SEC permitted Bitcoin and Ethereum ETFs, marking a big step towards integrating regulated crypto merchandise into mainstream markets.

With the brand new administration’s pro-crypto stance, many anticipate a extra favorable atmosphere for approving extra ETFs, together with these proposed by CoinShares and Grayscale.