Grayscale, one of the largest crypto asset management firms, just filed with the SEC to create a Litecoin and Solana ETF. It also filed for other crypto-related ETF products.

The firm’s “Bitcoin Adopters ETF” and synthetic Ethereum ETF are part of a massive surge in SEC applications since Gary Gensler resigned. It is presently unclear which, if any, of these products will meet regulatory approval.

Grayscale Continues the ETF Race

Compared to other cryptoassets, the race to create a Litecoin ETF has been subdued. The Nashville-based Canary Capital made the first filing in October, but few others have followed suit.

The SEC has been giving more signals that it may approve a Litecoin fund, and Nasdaq filed to list it if approved. Today, Grayscale became the second firm to file for a Litecoin ETF.

Although Litecoin’s price recently soared due to ETF rumors, Grayscale’s application has yet to move the needle much. This price spike quickly subsided after the ETF approval did not go through, and the market may be shy to raise its hopes again.

However, there might be other reasons why the Litecoin market lacks any notable movement. For instance, the network has seen very few upgrades and technical advancements compared to the other blockchains.

Meanwhile, Grayscale also Go to Source to See Full Article
Author: Landon Manning