{"id":38886,"date":"2025-01-24T22:56:57","date_gmt":"2025-01-24T22:56:57","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=38886"},"modified":"2025-01-24T22:56:57","modified_gmt":"2025-01-24T22:56:57","slug":"coinshares-seeks-approval-for-spot-litecoin-and-xrp-etf-in-latest-market-move","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=38886","title":{"rendered":"CoinShares Seeks Approval For Spot Litecoin And XRP ETF In Latest Market Move"},"content":{"rendered":"

In a notable change in the crypto regulatory environment, asset managers are regaining confidence in their pursuit of ETFs. Significantly, CoinShares submitted applications for a spot XRP ETF and a Litecoin (LTC) fund, indicating an increasing enthusiasm for altcoin investment offerings.<\/p>\n

CoinShares Targets Litecoin And XRP ETF<\/h2>\n

CoinShares\u2019 submission <\/a>arises as the US ETF market is progressively concentrating on cryptocurrency investments, after the approval and resulting success of funds investing in Bitcoin (BTC) and Ethereum (ETH) in 2024.<\/p>\n

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\u2019s second largest altcoin.\u00a0<\/p>\n

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

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, alingning with other firms, including Canary Capital and CoinShares, all seeking regulatory approval for similar products.<\/p>\n

Skepticism Surrounds Proposed Litecoin ETF<\/h2>\n

Despite the enthusiasm surrounding the XRP ETF filing, the altcoin has shown a mixed response in the market. XRP recently emerged from a nearly three-year consolidation period below the $0.50 mark, boosted by excitement surrounding pro-crypto regulatory shifts under President Donald Trump.\u00a0<\/p>\n

Currently, XRP is experiencing remarkable momentum, boasting a staggering 500% year-to-date gain, trading at approximately $3.10.<\/p>\n

However, the announcement of CoinShares\u2019 XRP ETF did not significantly impact the token\u2019s price, which remains down 0.4% within a 24-hour period.\u00a0<\/p>\n

On a more critical note, the proposed Litecoin ETF has sparked skepticism among some market experts. Analyst Ali Martinez expressed <\/a>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.\u00a0<\/p>\n

The analyst continued to probe the reasoning for initiating a Litecoin ETF when ironic options, like a \u201cUSDT ETF,\u201d he claims, might provide more instant advantages such as staking rewards.<\/p>\n

Featured image from DALL-E, chart from TradingView.com\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

In a notable change in the crypto regulatory environment, asset managers are regaining confidence in their pursuit of ETFs. Significantly, CoinShares submitted applications for a spot XRP ETF and a Litecoin (LTC) fund, indicating an increasing enthusiasm for altcoin investment offerings. CoinShares Targets Litecoin And XRP ETF CoinShares\u2019 submission arises as the US ETF market […]<\/p>\n","protected":false},"author":0,"featured_media":38887,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-38886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/38886"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=38886"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/38886\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/38887"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}