Grayscale and CoinShares are the latest asset managers to file with the U.S. Securities and Exchange Commission (SEC) for the launch of spot Litecoin ETFs, marking the second and third such applications after Canary Capital's submission last year.
On January 24, Grayscale submitted a 19b-4 form to NYSE Arca to convert its existing Grayscale Litecoin Trust and Grayscale Solana Trust into spot ETFs.
CoinShares, on the other hand, filed an S-1 form with the SEC to launch its own CoinShares Litecoin ETF, further signalling the firm’s push into the crypto ETF space.
These spot Litecoin ETF filings continue a trend of increased ETF applications for cryptocurrency-related funds, which gained momentum during the administration of former U.S. President Donald Trump, especially under the leadership of SEC Chair Mark Uyeda.
The filings come just days after Bitwise submitted an ETF application for Dogecoin, adding to the growing interest in crypto-linked ETFs. Other firms such as Osprey Funds and Rex Shares have also joined the race, with up to seven ETFs in the works, including a high-profile ETF centred on the memecoin TRUMP.