CoinShares Files For Spot Litecoin And XRP ETFs Amid Growing Interest
Asset managers are regaining confidence in the crypto ETF landscape. CoinShares has submitted applications for a spot XRP ETF and a Litecoin ETF, reflecting growing interest in altcoin investments.
CoinShares Targets Litecoin And XRP ETF
- CoinShares filed an S-1 registration statement with the SEC for an XRP ETF, aiming to offer direct exposure to XRP.
- The firm is also applying for a spot Litecoin ETF, joining a select group exploring altcoin ETFs in the US.
- Grayscale Investments has filed for Solana and Litecoin ETFs, alongside applications from Canary Capital and CoinShares.
Skepticism Surrounds Proposed Litecoin ETF
- XRP has gained 500% year-to-date, currently trading around $3.10, but the XRP ETF announcement had minimal impact on its price.
- Concerns exist regarding the Litecoin ETF's viability; analyst Ali Martinez noted Litecoin's stagnant price since 2017.
- Martinez questioned the rationale behind a Litecoin ETF when alternatives like a “USDT ETF” could offer quicker benefits.
