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CoinGape 2025-01-24 21:43:51

Breaking: Grayscale & Coinshares File For Litecoin ETF With US SEC

Breaking: Grayscale & Coinshares File For Litecoin ETF With US SEC

Asset managers Grayscale and Coinshares have both filed with the US Securities and Exchange Commission (SEC) to offer a Litecoin ETF. This makes them the second and third fund managers to do so after Canary Capital. Grayscale And Coinshares File For Litecoin ETF In an X post , the President of the ETF Store, Nate Geraci, revealed that Grayscale and Coinshares have filed with the US SEC to offer a Litecoin ETF. In Grayscale’s case, the asset manager filed a 19b-4 form to list and trade its Grayscale Litecoin Trust as an ETF. Meanwhile, Coinshares filed an S-1 form with the Commission to offer an LTC ETF. These are the second and third applications for such ETF following Canary Capital’s filing last year. This continues the flurry of crypto-related ETFs that have flooded in ever since US President Donald Trump took office and designated Mark Uyeda as the acting US SEC Chair . There is optimism that the new SEC administration would be more open to approving these funds, unlike the previous administration under Gary Gensler. Moreover, Trump has already vowed to make the US the crypto capital . It is worth mentioning that Grayscale has also filed for a Bitcoin Adapters ETF and a Solana ETF. The asset manager refiled to convert its Solana Trust into an ETF. Meanwhile, besides a Litecoin ETF, Coinshares has also filed with the US SEC to offer an XRP ETF. Coinshares becomes the sixth asset manager to file for an XRP ETF after REX Shares filed for one earlier this week. LTC Price Surges The LTC Price surged to as high as $122 on the back of these Litecoin ETF filings. These filings undoubtedly provide a bullish outlook for the crypto, considering that it could drive significant inflow into its ecosystem. Moreover, this development is timely as it comes at a time when the LTC price outlook was looking bearish due to Whales offloading their tokens and a drop in the network’s hash rate. Interstingly, the Litecoin ETF looks to be the next crypto that the SEC will approve based on predictions by market experts. Bloomberg analyst James Seyffart had previously noted that Canary Capital filing an amended S-1 form indicates that the SEC was already engaging with them on the application. Seyffart and fellow Bloomberg analyst Eric Balchunas had also previously explained that Litecoin could get the nod ahead of XRP and Solana because of its non-security status. The post Breaking: Grayscale & Coinshares File For Litecoin ETF With US SEC appeared first on CoinGape .

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