Grayscale and CoinShares File for Litecoin, XRP, and Solana ETFs

Highlights:

• Grayscale and CoinShares file for crypto ETFs, focusing on Litecoin, Solana, and XRP assets.
• Litecoin ETF filings spark price surge, drawing investment despite challenges like whale sell-offs.
• SEC’s regulatory shift is expected with a new crypto task force focusing on clear rules and enforcement.

Asset managers Grayscale and CoinShares have submitted filings for several crypto exchange-traded funds (ETFs), focusing on assets like Litecoin (LTC), Solana (SOL), and XRP to enhance regulated investment opportunities.

NYSE files 19b-4 to list & trade Grayscale Litecoin Trust…

In other words, uplist or convert LTC to ETF. pic.twitter.com/w9LTpzLUIq

— Nate Geraci (@NateGeraci) January 24, 2025

Litecoin ETF Filings Spark Price Surge and SEC Approval Hopes

In an X post, Nate Geraci, President of the ETF Store, shared that Grayscale and CoinShares have filed with the US SEC to launch Litecoin ETFs. Meanwhile, Grayscale submitted a 19b-4 form to list and trade its Grayscale LTC Trust as an ETF. These are the second and third applications for such an ETF, following Canary Capital’s filing last year.

The LTC price rose to $122 after the Litecoin ETF filings. These filings could attract more investment into Litecoin, which has been losing value due to whales selling tokens and a drop in the network’s hash rate.

Market experts predict that the Litecoin ETF may be the next crypto ETF approved by the SEC. Bloomberg analyst James Seyffart pointed out that Canary Capital’s amended S-1 form suggests the SEC is already in talks with them about the application. Seyffart, along with analyst Eric Balchunas, also noted that Litecoin may be approved before XRP and Solana due to its non-security status.

We had heard chatter that the Litecoin S-1 had gotten comments back from SEC. This looks to confirm that which bodes well for our prediction that Litecoin is most likely to be the next coin approved. All that said, new SEC chair has yet to start and that's a huge variable. https://t.co/cKFswPwcr0

— Eric Balchunas (@EricBalchunas) January 15, 2025

Grayscale and CoinShares File for Multiple Crypto ETFs

Grayscale has also filed for a Bitcoin Adapters ETF and a Solana ETF. The firm has refiled to convert its Solana Trust into an ETF. In addition to the Litecoin ETF, CoinShares has also filed with the US SEC to offer an XRP ETF. This makes CoinShares the sixth asset manager to file for an XRP ETF, following REX Shares’ filing earlier this week.

Crypto ETFs Surge as SEC Shifts Under New Leadership

This marks the latest wave of crypto-related ETFs that have emerged since Donald Trump’s presidency, especially after Mark Uyeda was named acting SEC Chair. There is growing optimism that the current SEC leadership will be more receptive to approving these funds compared to Gary Gensler’s administration. Additionally, Trump has expressed his commitment to making the US the global crypto hub.

Over the past year, the agency approved spot Bitcoin and Ethereum ETFs. However, in the last week, several firms have submitted proposals for funds based on DOGE and other cryptocurrencies. A regulatory shift may be on the horizon, as the agency recently established a new crypto task force led by SEC Commissioner Hester Peirce, also known as “Crypto Mom.” The task force will hold roundtables and focus on creating clear rules. It will also offer realistic paths to registration, improve disclosure, and use enforcement resources wisely, according to the agency.

🚨NEW per my @FoxBusiness colleague @EdwardLawrence: The #crypto executive order has officially been signed.

Here are the details:

📌The Executive Order establishes the Presidential Working Group on Digital Asset Markets to strengthen U.S. leadership in digital finance.

📌The…

— Eleanor Terrett (@EleanorTerrett) January 23, 2025