ETF Application for Three Altcoins from Two Major Companies: They are Coming with a Bang! - Koin Bulletin

Two giant US companies have applied for spot ETFs for three different cryptocurrencies.

There has been a significant development in the cryptocurrency market. On Friday, January 24, a series of applications were made for exchange-traded funds (ETFs) based on Litecoin (LTC), Solana (SOL), and Ripple (XRP) on the spot stock exchange investment funds.

CoinShares has submitted official applications for "CoinShares Litecoin ETF" and "CoinShares XRP ETF". At the same time, the New York Stock Exchange (NYSE) has published 19b-4 applications for "Grayscale Litecoin Trust" and "Grayscale Solana Trust".

In these applications made by Grayscale, there are also statements regarding the conversion of existing trusts into spot ETFs.

(# The change in the USA has brought a new breath to the cryptocurrency ETF process

Applications came shortly after the departure of former SEC chairman Gary Gensler and the start of former president Donald Trump's four-year term.

It is expected that Trump will adopt crypto-friendly policies and appoint former regulator Paul Atkins to head the SEC. This is seen as potentially creating a positive atmosphere in the markets.

Last year, the SEC approved spot ETFs based on Bitcoin and Ethereum. In addition, applications for funds based on other crypto assets like DOGE have been filed in the past week.

In the coming months, there may be a change in the SEC's regulatory approach to the cryptocurrency markets.

According to the SEC's statement, the newly formed crypto task force will work under the leadership of SEC Commissioner Hester Peirce, known as "Crypto Mom". The task force will organize workshops on providing regulatory clarity, determining registration pathways, transparency, and efficient use of resources.