There’s a wave of excitement building in the cryptocurrency industry as giant asset managers double down on their search for altcoin-focused exchange-traded funds (ETFs). Major players like Grayscale and CoinShares are pushing for ETFs focused on Litecoin, XRP and Solana. Could this be the turning point for crypto ETFs in 2025?
Grayscale’s new ETF filings
Nate Geraci, the president of The ETF Store, recently pointed out an important development in a tweet. He pointed out that the New York Stock Exchange (NYSE) had filed a 19b-4 form to list and trade Grayscale’s Litecoin Trust. These new documents aim to solve some of the issues that have caused problems with crypto investments in the past, such as ensuring security and clear rules around custody.
However, the proposed Litecoin ETF would track the price of Litecoin without requiring investors to actually own the coins. It’s a step up from Grayscale’s existing Litecoin Trust, and it could make it easier for people to invest in Litecoin without the usual complications.
Meanwhile, Grayscale also hopes to convert its Grayscale Solana Trust into a Solana ETF. The SEC would make a decision on this by January 23, 2025, but no public comment has yet been received.
This silence could mean the SEC is taking time to carefully consider the proposal, perhaps under new guidelines and a new perspective.
CoinShares joins the race with Litecoin and XRP ETFs
Not far behind, CoinShares has also submitted an application for two new ETFs, one for Litecoin and one for XRP. CoinShares hopes to bring crypto closer to traditional investments, allowing more people to access the market through these new funds.
Other companies such as Bitwise, ProShares, WisdomTree and REX Shares have also filed for XRP ETFs, showing that demand for these types of investment products is growing rapidly.
New era for crypto ETFs
These declarations take place at a time of major changes within the American government. With President Trump taking office on January 20, 2025, many believe the SEC will take a more crypto-friendly approach.
Former SEC Chairman Gary Gensler recently resigned and President Trump appointed Paul Atkins, a former regulator known for his support of cryptocurrencies, to lead the SEC.
Price Analysis: XRP, LTC, Sol
Despite the excitement surrounding the ETF filing, the altcoin has seen mixed reactions in the market. XRP, one of the top cryptocurrencies, is finding support and may be ready to break out of the consolidation phase, with its price remains around $3.13.
Meanwhile, following the recent ETF filings, Litecoin’s price rose to $125, marking a 9% increase in just one day, bringing its market cap to $9.4 billion.
On the other hand, Solana is trading steadily around $252.
