Important points
Grayscale and Coinshares have applied for ETFs including Litcoin, Solana and XRP. If these ETFs are approved, you will increase your regulated investment options for encrypted assets.
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Both companies aim to expand their investment options for regulatory, and applied for multiple cryptocurrency listing funds (ETFs) for assets such as Litcoin, Solana, and XRP. There is.
Grace Kale has filed an application for an ETF to track both Litecoin and Solana. Litecoin ETF will track LTC price fluctuations without directly needed ownership, based on the company’s existing Litecoin Trust products.
Grace Kale had previously filed an application to convert the existing Glace Kale Solana Trust (GSOL) to Spot Solana ETF, and the SEC decision was initially scheduled on January 23.
However, the SEC has not received public comments or actions, suggesting that the screening deadline may be extended.
Gracequale seems to be further clarifying the regulation concerns in the latest applications, further clarifying the structure, storage, and compliance measures.
With this movement, the SEC may be able to reconsider proposals in a more comprehensive evaluation framework.
Coinshares has independently applied for Litcoin ETF and XRPETF and joined the competition. As described in the documents submitted to the SEC, XRP ETF aims to reproduce XRP performance while simplifying directly storage issues.
Similarly, other funds such as Bitwise, Proshares, Wisdomtree, and REX SHARES have also submitted XRP ETF applications.
These applications were submitted by President Trump on Monday, following the establishment of a virtual currency promotion SEC, which Mark Weda served as a provisional SEC chairman.
Under the new administration, SEC has introduced a dedicated encryption task force to develop a regulatory framework for digital assets.
Last year, SEC approved Bitcoin and Ethereum ETF, taking an important step in integrating regulated encryption products into mainstream markets.
Many people predict that the new administration’s cryptocurrency support will create a more advantageous environment for approval of more ETFs, including those proposed by coin sharerers and grace kale.
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