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Mustafa Mulla
Mustafa Mulla
Author
Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.
- Jan 25, 2025 04:28 UTC
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Grayscale and CoinShares Push for Altcoin ETFs: Litecoin, XRP, & Solana Next?
Grayscale filed for ETFs tracking Litecoin and Solana to boost crypto investments.
SEC's decision on Grayscale Solana ETF delayed, raising speculation on approval.
Meanwhile, CoinShares even joins the race with ETF filings for XRP and Litecoin.
Excitement is building in the cryptocurrency world as major players are pushing forward with altcoin-focused exchange-traded funds (ETFs). Companies like grayscale Investment 
grayscale Investment - Investment platform 
and CoinShares are leading the charge, targeting popular altcoins such as Litecoin, XRP, and Solana.
But with the SEC’s response still hanging in the balance and a major shift in government leadership, could 2025 be the year these crypto ETFs finally break through?
Grayscale’s New ETF Filings
Nate Geraci, President of The ETF Store, recently pointed out a key development on Twitter. He noted that the New York Stock Exchange (NYSE) had filed a 19b-4 form to list and trade Grayscale’s Litecoin Trust. This is an effort to address issues that have caused problems for crypto investments in the past, like ensuring better security and clearer rules around custody.
The proposed Litecoin ETF would track the price of Litecoin, allowing investors to benefit from its price movement without needing to actually own the coins. This is a step up from Grayscale’s existing Litecoin Trust and could make it easier for investors to gain exposure to Litecoin without the usual complications.
Solana ETF Waiting for SEC Decision
Grayscale is also working to convert its Grayscale Solana Trust into a Solana ETF. The SEC was expected to make a decision on this proposal by January 23, 2025, but there has been no public comment yet. The delay might mean that the SEC is taking extra time to review the proposal, possibly under new guidelines or a fresh perspective.
CoinShares Joins the Race: New ETFs for Litecoin and XRP!
Not far behind, CoinShares has filed for two new ETFs—one focused on Litecoin and another on XRP. CoinShares hopes to make it easier for more people to invest in crypto by offering these funds, which aim to bring crypto closer to traditional investment products.
Other companies, like Bitwise, ProShares, WisdomTree, and REX Shares, are also filing for XRP ETFs. This shows that there’s a growing demand for these types of investment products.
Regulations Are Shifting!
These ETF filings are happening during a time of change in the U.S. government. With President Trump taking office on January 20, 2025, many believe the SEC could take a more crypto-friendly approach. Former SEC Chair Gary Gensler recently stepped down, and President Trump appointed Paul Atkins, a former regulator who has supported cryptocurrencies, to lead the SEC.
This shift could have a big impact on the future of crypto ETFs.
Price Analysis: XRP, LTC, SOL
Despite the excitement around the ETF filings, market reactions have been mixed. XRP, one of the top cryptocurrencies, is holding steady at around $3.13, with the potential to break out of its consolidation phase.
Litecoin saw a strong price increase, rising to $125—a 9% jump in just one day—bringing its market cap to $9.4 billion.
Meanwhile, Solana is trading steadily around $252, showing stability in the market.
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The race for altcoin ETFs is on, and with major players backing these new funds, crypto is all set to thrive!
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