Grayscale and CoinShares focus on new crypto ETFs including Litecoin, Solana, and XRP

Key Takeaways

Grayscale and CoinShares have applied for ETFs including Litecoin, Solana, and XRP.
The approval of these ETFs would expand regulated investment options for crypto assets.

Grayscale Investments and CoinShares have filed for multiple crypto trading funds, targeting assets including Litecoin, Solana, and XRP as both companies seek to expand regulated investment options.

Grayscale has filed bids for ETFs tracking both Litecoin and Solana. The Litecoin ETF would track LTC price movements without requiring direct ownership, building on the company's existing Litecoin Trust product.

Grayscale previously filed to convert the Greyscale Solana Trust (GSOL) into a replacement Solana ETF, initially with the SEC's ruling registered for January 23rd.

However, no public comment or action has been issued by the SEC, suggesting that there may be an extended review date.

In its latest version to fileGrayscale appears to address previous regulatory concerns and provide additional clarity regarding the ETF's structure, holdings and compliance measures.

This move could allow the SEC to revisit the proposal with a more comprehensive valuation framework.

CoinShares has joined the race with its own filings for a Litecoin ETF and the XRP ETF. The XRP ETF, as described in its SEC filing, aims to replicate the performance of XRP while simplifying direct holding challenges.

Similarly, other funds, including Bitwise, ProShares, WisdomTree, and REX Shares, have filed registrations for XRP ETFs.

These filings come after President Trump took office on Monday and established a pro-crypto SEC, by Mark Uyeda serve as interim SEC Chairman.

The SEC, under the new administration, has introduced a special registry crypto task force to develop a regulatory framework for digital assets.

Last year, the SEC approved the Bitcoin and Ethereum ETF, marking an important step towards integrating regulated crypto products into mainstream markets.

With the new administration's pro-crypto stance, many expect a more favorable environment to allow more ETFs, including those proposed by CoinShares and Grayscale.