Key Takeaways
- Grayscale and CoinShares have applied for ETFs including Litecoin, Solana, and XRP.
- Approval of these ETFs would expand regulated investment options for crypto assets.
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Grayscale Investments and CoinShares have filed for multiple crypto exchange-traded funds, targeting assets including Litecoin, Solana, and XRP as both firms seek to expand regulated investment options.
Grayscale has submitted applications for ETFs tracking both Litecoin and Solana. The Litecoin ETF would track LTC’s price movements without requiring direct ownership, building on the firm’s existing Litecoin Trust product.
Grayscale previously filed to convert its existing Grayscale Solana Trust (GSOL) into a spot Solana ETF, with the SEC’s decision initially scheduled for January 23.
However, no public comment or action was issued by the SEC, suggesting the possibility of an extended review deadline.
In its latest filing, Grayscale appears to address previous regulatory concerns and provide additional clarity regarding the ETF’s structure, custody, and compliance measures.
This move could potentially allow the SEC to revisit the proposal with a more comprehensive framework for evaluation.
CoinShares has joined the race with its own filings for a Litecoin ETF and an XRP ETF. The XRP ETF, as outlined in its SEC filing, aims to replicate the performance of XRP while simplifying the challenges of direct custody.
Similarly, other funds, including Bitwise, ProShares, WisdomTree, and REX Shares, have submitted filings for XRP ETFs.
These filings come on the heels of President Trump taking office on Monday and establishing a pro-crypto SEC, with Mark Uyeda serving as interim SEC Chair.
The SEC, under the new administration, has introduced a dedicated crypto task force to develop a regulatory framework for digital assets.
Last year, the SEC approved Bitcoin and Ethereum ETFs, marking a significant step toward integrating regulated crypto products into mainstream markets.
With the new administration’s pro-crypto stance, many anticipate a more favorable environment for approving more ETFs, including those proposed by CoinShares and Grayscale.
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