- Nate Geraci recently shared in a post on X that both Coinshares and Grayscale have filed applications to launch Litecoin Exchange-Traded Funds.
- Asset managers had already been racing to file ETF applications even before Donald Trump’s inauguration, with Trump now in office and a pro-crypto SEC Chair at the helm, the outlook for the crypto industry has never been greener.
The world of cryptocurrency is experiencing a renewed wave of optimism under the leadership of Donald Trump, the 47th President of the United States. With executive orders aimed at providing regulatory clarity for digital assets, the crypto industry is poised for significant growth. This proactive stance has sparked increased institutional interest, particularly in Litecoin (LTC). Nate Geraci, President of the ETF Store, recently revealed on X that both Grayscale and Coinshares, a leader in the cryptocurrency exchange-traded product (ETP) sector, have filed applications to launch Litecoin Exchange-Traded Funds (ETFs).
Coinshares also files for XRP ETF…
I told you all to strap in for 2025. pic.twitter.com/rvZbAUPJiO
— Nate Geraci (@NateGeraci) January 24, 2025
This filing seeks approval to list and trade its Grayscale Litecoin Trust as an ETF. If approved, the ETF would closely follow Litecoin’s price, providing investors with an opportunity to gain exposure to the cryptocurrency without the complexities of owning it directly.
Grayscale’s ambitions, however, extend far beyond Litecoin. The company has also filed applications for a Bitcoin Adapters ETF and a Solana ETF while aiming to convert its existing Grayscale Solana Trust into an ETF. According to the official NYSE filing, the proposed Solana Trust holds approximately $134.2 million in assets, making it the largest Solana investment fund globally. This substantial figure accounts for roughly 0.1% of all Solana (SOL) in circulation, underscoring the scale of Grayscale’s commitment to the crypto market.
Coinshares Joins the Race
Meanwhile, Coinshares has filed an S-1 form with the SEC to introduce a Litecoin ETF. This filing follows Canary Capital’s similar application with the SEC last year, signaling a growing interest in Litecoin-based investment products. According to regulatory guidelines, the SEC has 45 days to make an initial decision on ETF applications after acceptance and up to 240 days for a final ruling. For Canary Capital’s Litecoin ETF, this means the SEC has until June 2025 to issue a verdict on approval or rejection.
In addition to its Litecoin ETF application, Coinshares has also filed for a Ripple (XRP) ETF. Coinshares’ move follows similar filings by other asset managers such as Bitwise, ProShares, WisdomTree, and REX Shares, reflecting the surging demand for crypto-related ETFs.
President Trump has been vocal about his intention to make the United States the global hub for cryptocurrency innovation. His administration’s focus on regulatory clarity is a testament to this commitment. The appointment of Mark Uyeda as the acting SEC Chair has also boosted confidence in the potential approval of crypto ETFs. This starkly contrasts Gary Gensler’s tenure since 2021, whose approach was often seen as more cautious and conservative toward crypto-related products.
The flurry of ETF activity surrounding Litecoin has positively impacted its market performance. In the last 24 hours, LTC’s value has risen by 3.76%, trading at $121.35. Despite a 3.20% drop over the past seven days, LTC’s trading volume has surged by 62.76% to $1.22 billion, reflecting increased interest and optimism among investors.
