Grayscale Filed For ETFs Tracking Cryptocurrencies like Litecoin, XRP! CoinShares Joins The List
As large asset management companies have invested in exchanges trading funds (ETFs) focusing on cottage coins, the cryptocurrency industry is setting off a wave of excitement. Large companies such as GrayScale and CoinShares are promoting ETFs focusing on Litecoin, XRP and Solana. Will this become the turning point of the encryption ETF in 2025?
New ETF file with grayness
Nate Geraci, president of The ETF Store, recently pointed out a key progress in a tweet. He pointed out that the New York Stock Exchange (NYSE) has submitted the Litecoin trust of the 19B-4 form to list and trades GrayScale. These new documents aim to solve some problems that have caused the problems of cryptocurrency investment in the past, such as ensuring safety and clear rules related to custody.
However, the proposed Litecoin ETF will follow the price of Litecoin, and investors do not need to have these tokens. This is a progress of the existing Leitecoin trust, which makes it easier for people to invest in Litecoin without the usual complex situation.
At the same time, GrayScale also hopes to convert it to Solana ETF. SEC should have made a decision before January 23, 2025, but there is no public comment.
This silence may mean that the US Securities and Exchange Commission is considering the proposal carefully, perhaps under the new guidelines and new perspectives.
CoinShares join the competition between Litecoin and XRP ETF
Unwilling backward, CoinShares has also been submitted Two new ETFs, one for Litecoin and the other for XRP. CoinShares hopes to make cryptocurrencies closer to traditional investment and allow more people to enter the market through these new funds.
Other companies such as Bitwise, Proshares, Wisdomtree, and Rex Shares also applied for XRP ETFs, indicating that the demand for such investment products is growing rapidly.
The new era of cryptocurrency ETF
These documents were submitted by major changes in the US government. As President Trump took office on January 20, 2025, many people believe that SEC will adopt a way to be more friendly to cryptocurrencies.
Former SEC Chairman Gary Gensler recently stepped down, and President Trump appointed former supervisor Paul Atkins, who is famous for supporting cryptocurrencies.
Price analysis: XRP, LTC, SOL
Although people are full of enthusiasm for ETF applications, Congzhan coins have different responses in the market. XRP is one of the top cryptocurrencies. It is seeking support and may be ready to break through the integrated stage. The price is maintained at about $ 3.13Essence
At the same time, after the recent ETF filing, the price of Litecoin soared to $ 125, rising by 9%within a day, making its market value reached 9.4 billion US dollars.
On the other hand, the transaction price of Solana is stable at about $ 252.
