BREAKING: Coinshares File For Litecoin ETF And XRP ETF With US SEC

CoinShares has officially submitted filings with the U.S. Securities and Exchange Commission (SEC) for spot exchange-traded funds (ETFs) focused on Litecoin ($LTC) and $XRP. This move marks a significant step as asset managers aim to expand cryptocurrency-based investment offerings in the United States.

$XRP and Litecoin ETFs Proposed by CoinShares

CoinShares has submitted an S-1 registration statement to the SEC to launch a spot $XRP ETF as a means of giving investors exposure to the $XRP currency. This is the case at a time when the US ETF market is experiencing heightened attention in cryptocurrency investment products with the recent approval of physical Bitcoin ETFs.

Besides the $XRP ETF, the company has also applied for a spot Litecoin ETF, as CoinShares continues to grow its product range in the cryptocurrency space. The decision makes CoinShares is one of the only companies exploring altcoin-based ETFs in the US market.

Grayscale Joins the Race With Litecoin ETF Plans

This is not the first time that an asset management company has sought to list an ETF based on Litecoin – Grayscale has also joined in. Grayscale submitted a 19b-4 form with the SEC to make Grayscale Litecoin Trust (GLTC) an ETF. This application is similar to other attempts to convert other trust products into ETFs, including the Grayscale Solana Trust (GSOL).

Grayscale’s filing and the two from CoinShares make Grayscale and CoinShares the second and third managers to seek a Litecoin ETF after Canary Capital’s filing last year. Increased popularity in Litecoin ETFs could simply be attributed to the development of a new market for cryptocurrency products.

The new developments have caused some debate within the crypto community. Market analyst Ali took to X to express doubt about the necessity of a Litecoin ETF for example.

In a post, Ali said, “A #Litecoin $LTC ETF!? For a coin that has not moved from the price it was in 2017. That is eight years of trading activity within the same range.

Couldn’t they have just launch a #$USDT ETF though? At the very least, you can earn a staking yield.”