Grayscale ETFs have been introduced to track cryptocurrencies like Litecoin and XRP! CoinShares joins the list
A wave of excitement is building in the cryptocurrency industry as giant asset managers double down on their pursuit of exchange-traded funds (ETFs) focused on altcoins. Big players like Grayscale and CoinShares are looking to create ETFs focused on Litecoin, XRP, and Solana. Could this be a turning point for crypto ETFs in 2025?
New Grayscale ETF Files
Nate Geraci, head of ETF Shop, recently pointed out a key development in a tweet. He noted that the New York Stock Exchange (NYSE) has filed Form 19b-4 for the listing and trading of Grayscale’s Litecoin Trust. These new deposits aim to fix some of the issues that have caused problems for cryptocurrency investments in the past, such as ensuring security and clear rules regarding 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 could make it easier for people to invest in Litecoin without the usual complexities.
Meanwhile, Grayscale also hopes to convert the Grayscale Solana Trust into a Solana ETF. The SEC was supposed to make a decision on the matter by January 23, 2025, but there has been no public comment yet.
This silence may mean that the SEC is taking its time to carefully consider the proposal, perhaps under new guidelines and a fresh perspective.
CoinShares is joining the race with Litecoin and XRP ETFs
Not far behind, CoinShares has also filed For two new ETFs, one for Litecoin and one for XRP. CoinShares hopes to bring cryptocurrencies closer to traditional investments, allowing more people to access the market through these new funds.
Other companies such as Bitwise, ProShares, WisdomTree, and REX Shares have also applied for XRP ETFs, showing that demand for these types of investment products is growing rapidly.
A new era for cryptocurrency ETFs
These filings occur at a time of significant change in the United States government. With President Trump taking office on January 20, 2025, many believe that the SEC will adopt a more crypto-friendly approach.
Former SEC Chairman Gary Gensler recently stepped down, and President Trump appointed Paul Atkins, a former regulator known for supporting cryptocurrencies, to lead the SEC.
Price Analysis: XRP, LTC, Sol
Despite the enthusiasm surrounding ETF deposits, the altcoin has shown a mixed response in the market. XRP, one of the top cryptocurrencies, is finding support and may be ready to emerge from its consolidation phase. The price stays around $3.13.
Meanwhile, after the recent ETF filings, the price of Litecoin rose to $125, showing a 9% increase in just one day, bringing the market capitalization to $9.4 billion.
Solana stock, on the other hand, is trading flat at around $252.
