With significant changes within the cryptocurrency regulatory environment, asset managers are beginning to regain optimism regarding the pursuit of exchange-traded funds (ETFs). In particular, Coinshares has filed applications for a Spot XRP ETF and a Litecoin (LTC) fund, demonstrating growing interest in investments related to alternative cryptocurrencies.
Coinshares sets its sights on Litecoin and XRP ETFs
Coinshares’ filing comes at a time when the U.S. ETF market is focused on cryptocurrency assets following the successful acceptance of Bitcoin (BTC) and Ethereum (ETH) funds in 2024.
The Company has filed an S-1 Registration Statement with the S-1 Registration Commission (SEC) with plans to introduce an XRP ETF aimed at giving investors direct access to the second largest alternative cryptocurrency on the market. Submitted.
Additionally, Coinshare has expanded its product range by filing a spot Litecoin ETF, distinguishing itself as one of the few companies actively pursuing Altcoin-related ETFs within the US market.
On the same day, Grayscale Investments filed applications with the New York Stock Exchange (NYSE) for both the Solana ETF and the Litecoin ETF, joining forces with other companies such as Canary Capital and Coinshare, all for similar offerings. Seeking regulatory approval.
Concerns about the proposed Litecoin ETF
Even with the enthusiasm surrounding the XRP ETF filing, the Altcoin has yielded mixed reactions in the market. XRP recently emerged from a nearly three-year consolidation phase below the $0.50 level, driven by optimism regarding favorable regulatory changes under President Donald Trump.
Currently, XRP is showing impressive momentum, achieving an astounding 500% year-to-date gain and trading at around $3.10.
Nevertheless, Coinshares’ announcement regarding the XRP ETF had little impact on the token’s price, which declined by 0.4% in the past 24 hours.
On a more cautious note, the proposed Litecoin ETF has raised doubts among some market analysts. Expert Ali Martinez expressed concerns about the viability of the Litecoin ETF, highlighting that since 2017, the coin has been stuck in the same price range for eight years.
Analysts expressed curiosity about the rationale behind the launch of the Litecoin ETF when potentially more lucrative options such as the ‘USDT ETF’ can offer immediate benefits such as stake rewards.
Featured image on Dall-E, chart on tradingView.com
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