Multiple coin ETFs! Grayscale submits Solana and Litecoin Spot ETF applications, CoinShares also throws XRP and LTC applications

According to The Block, Grayscale has also joined the SOL Spot ETF application camp this Friday, submitting 19b-4 applications for SOL and LTCcoin to convert their respective trust products into Spot ETFs. CoinShares also submitted two Cryptocurrency Spot ETF applications on Friday, namely CoinShares Litecoin ETF for LTCcoin and CoinShares XRP ETF for XRP. (Background: Is the next Cryptocurrency ETF not SOL? Bloomberg analyst: HBAR and LTC are expected to be listed first next year) After the BTC and Ethereum Spot ETFs were approved for listing by the United States Securities and Exchange Commission (SEC) last year, the industry has speculated multiple times that ETF products of multiple mainstream cryptocurrencies, including SOL and XRP, will also be listed. Now, due to President Trump's positive attitude towards the adoption and development of Cryptocurrencies, and the appointment of Paul Atkins, who is friendly to Cryptocurrencies, as the new SEC chairman, the market believes that the probability of these mainstream Cryptocurrency ETF products being approved by regulators has greatly increased. Grayscale submits SOL and LTCcoin ETF applications. According to The Block's report yesterday (24th), Grayscale, a digital asset management giant, together with the New York Stock Exchange (NYSE), has submitted 19b-4 applications for SOL and LTCcoin, seeking to convert their respective trust products into Spot ETFs. The names of the two products are Grayscale Solana Trust and Grayscale Litecoin Trust, respectively. At the same time, another asset management company, CoinShares, also submitted two Cryptocurrency Spot ETF applications, namely CoinShares Litecoin ETF for LTCcoin and CoinShares XRP ETF for XRP. The US SEC may make the first review decision on SOL ETF today. It is worth mentioning that ETF issuers VanEck, 21Shares, Canary, and Bitwise have already submitted ETF applications for SOL successively. Today (25th) is the time when the SEC makes the first review decision on these applications. (These applications were officially accepted by the SEC on November 21st last year. According to the approval process, the SEC needs to make the first decision within 45 days after acceptance, but it can choose to approve, reject, or postpone.) Nasdaq applies to modify IBIT issuance method. It is also worth noting that Nasdaq submitted a document on Friday on behalf of BlackRock, seeking to modify the BTC Spot ETF issuance method-from cash issuance and redemption to physical creation and redemption. In this regard, Bloomberg ETF analyst James Seyffart commented that if this modification application is approved, the trading efficiency of the ETF will be improved because the physical creation and redemption model is more streamlined: This mainly means that the trading efficiency of the ETF should be higher than theoretically, because things can be simplified. In my opinion, it should have been like this from the beginning. Obviously, the Democratic SEC commissioners initially opposed it. In short, the physical model is more streamlined, with fewer steps and fewer participants, which is in line with the operation of most ETFs. Wow. Way too many questions and this stuff goes pretty deep in the weeds. So I'll keep it high level and answer "What does this mean?" Not all that much for individual retail investors. Mostly what it means is that ETFs should trade even more efficiently than they already do… pic.twitter.com/LWYsKmo5sH — James Seyffart (@JSeyff) January 24, 2025 Extended reading: encryption Hester Peirce: ETF physical redemption and stake are expected to be launched! US encryption regulation may be clarified Related reports Bloomberg analyst: Trump is expected to see Dogecoin ETF after taking office, is $1 for DOGE not a dream? Ethereum ETF December "Net inflow of $2.6 billion" grows for 8 consecutive weeks, can ETH return to glory this year? US fund company applies to SEC for TRUMP, DOGE, BONK... and other meme coin ETFs, Bloomberg analyst: It's too magical. <Multi-coin ETF! Grayscale submits Solana and LTCcoin Spot ETF applications, CoinShares also throws XRP and LTC applications> This article was first published on BlockTempo.