Important points
- Grayscale and CoinShares have filed an ETF that includes Litecoin, Solana, and XRP.
- If approved, these ETFs would expand regulated investment options for crypto assets.
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Grayscale Investments and CoinShares have both filed for multiple crypto exchange-traded funds (ETFs) targeting assets such as Litecoin, Solana, and XRP, as both companies seek to expand their regulated investment options. There is.
Grayscale has submitted an application for an ETF that tracks both Litecoin and Solana. The Litecoin ETF will build on the company's existing Litecoin Trust product and track LTC price movements without requiring direct ownership.
Grayscale previously filed to convert its existing Grayscale Solana Trust (GSOL) into a Spot Solana ETF, and the SEC's decision was originally scheduled for January 23.
However, the SEC has not issued any public comments or taken any action, suggesting that the review deadline may be extended.
In its latest filing, Grayscale appears to address previous regulatory concerns and provide further clarity about the ETF's structure, custody, and compliance measures.
The move could allow the SEC to reconsider proposals with a more comprehensive evaluation framework.
CoinShares has joined the fray by filing its own Litecoin ETF and XRPETF. As outlined in an SEC filing, the XRP ETF aims to replicate the performance of XRP while simplifying the challenges of direct custody.
Similarly, other funds such as Bitwise, ProShares, WisdomTree, and REX Shares have also submitted applications for XRP ETFs.
These filings were filed following President Trump's inauguration on Monday and the establishment of the Cryptocurrency Promotion SEC, with Mark Ueda serving as interim SEC chairman.
Under the new administration, the SEC has introduced a dedicated crypto task force to develop a regulatory framework for digital assets.
Last year, the SEC approved Bitcoin and Ethereum ETFs, taking an important step toward integrating regulated crypto products into the mainstream market.
Many expect the new administration's pro-crypto stance to create a more favorable environment for approval of more ETFs, including those proposed by CoinShares and Grayscale.
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