CoinShares Targets Litecoin (LTC) And XRP ETF

In a notable change in the crypto regulatory environment, asset managers are regaining confidence in their pursuit of ETFs. Significantly, CoinShares submitted applications

CoinShares submitted applications for a spot XRP ETF and a Litecoin (LTC) fund, indicating an increasing enthusiasm for altcoin investment offerings.

The firm's submission comes as the US ETF market is increasingly focusing on cryptocurrency investments, following the approval and subsequent success of funds investing in Bitcoin (BTC) and Ethereum (ETH) in 2024.

CoinShares filed an S-1 registration statement with the Securities and Exchange Commission (SEC) to launch the XRP ETF, aiming to provide investors with direct exposure to the market's second-largest altcoin.

Moreover, CoinShares is expanding its offerings by applying for a spot Litecoin ETF, positioning itself as one of the few companies actively pursuing altcoin-based ETFs in the US market.

On the same day, Grayscale Investments also filed applications with the New York Stock Exchange (NYSE) for both a Solana ETF and a Litecoin ETF, joining other firms, including Canary Capital and CoinShares, in seeking regulatory approval for similar products.

CoinShares Targets Litecoin And XRP ETF

CoinShares' submission arises as the US ETF market is progressively concentrating on cryptocurrency investments, following the approval and resulting success of funds investing in Bitcoin (BTC) and Ethereum (ETH) in 2024.

The firm has submitted an S-1 registration statement to the Securities and Exchange Commission (SEC) to launch the XRP ETF, aimed at providing investors with direct exposure to the market's second-largest altcoin.

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Additionally, CoinShares is expanding its offerings by applying for a spot Litecoin ETF, positioning itself as one of the few companies actively exploring altcoin-based ETFs in the US market.

However, the announcement of CoinShares' XRP ETF did not significantly impact the token's price, which remains down 0.4% within a 24-hour period.

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On a more critical note, the proposed Litecoin ETF has sparked skepticism among some market experts. Analyst Ali Martinez expressed concerns regarding the viability of a Litecoin ETF, pointing out that the coin has remained stuck in the same price range since 2017, a span of eight years.

The analyst continued to probe the reasoning for initiating a Litecoin ETF when ironic options, like a “USDT ETF,” he claims, might provide more instant advantages such as staking rewards.

Featured image from DALL-E, chart from TradingView.com