Asset managers Grayscale and Coinshares have each filed with the US Securities and Exchange Commission (SEC) to supply a Litecoin ETF. This makes them the second and third fund managers to take action after Canary Capital.
Grayscale And Coinshares File For Litecoin ETF
In an X post, the President of the ETF Store, Nate Geraci, revealed that Grayscale and Coinshares have filed with the US SEC to supply a Litecoin ETF. In Grayscale’s case, the asset supervisor filed a 19b-4 type to listing and commerce its Grayscale Litecoin Trust as an ETF.
Meanwhile, Coinshares filed an S-1 type with the Commission to supply an LTC ETF. These are the second and third purposes for such ETF following Canary Capital’s submitting final 12 months.
This continues the flurry of crypto-related ETFs which have flooded in ever since US President Donald Trump took workplace and designated Mark Uyeda because the acting US SEC Chair.
There is optimism that the brand new SEC administration could be extra open to approving these funds, not like the earlier administration underneath Gary Gensler. Moreover, Trump has already vowed to make the US the crypto capital.
It is value mentioning that Grayscale has additionally filed for a Bitcoin Adapters ETF and a Solana ETF. The asset supervisor refiled to transform its Solana Trust into an ETF.
Meanwhile, in addition to a Litecoin ETF, Coinshares has additionally filed with the US SEC to supply an XRP ETF. Coinshares turns into the sixth asset supervisor to file for an XRP ETF after REX Shares filed for one earlier this week.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto information author and editor who has coated subjects that lower throughout DeFi, NFTs, good contracts, and blockchain interoperability, amongst others. Boluwatife has a knack for simplifying probably the most technical ideas and making it simple for crypto newbies to grasp. Away from writing, He is an avid basketball lover and a part-time degen.
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