Crypto ETFs Surge in Popularity

A wave of spot crypto exchange-traded fund (ETF) filings emerged on Friday, targeting Litecoin and XRP.

New ETF Filings

CoinShares has submitted registration statements for two new ETFs: the CoinShares Litecoin ETF and the CoinShares XRP ETF. Additionally, the NYSE registered a 19b-4 filing for the Grayscale Litecoin Trust and another for a Grayscale Solana Trust. Notably, both Grayscale filings express intent to convert existing trusts into spot ETFs.

Regulatory Changes Ahead

These filings hit just days after President Donald Trump began his four-year term, following the resignation of former U.S. Securities and Exchange Commission (SEC) chair Gary Gensler. Trump is anticipated to adopt a more crypto-friendly approach, appointing ex-regulator Paul Atkins to lead the SEC.

The SEC has approved various spot bitcoin and Ethereum ETFs over the past year, and recently, a surge of proposals has emerged for funds centered around cryptocurrencies like DOGE.

New Crypto Task Force Initiated

A potential regulatory shift may be on the horizon, as the SEC has established a new crypto task force under Commissioner Hester Peirce—affectionately dubbed “Crypto Mom.” This task force aims to conduct roundtables and focus on developing clear guidelines along with realistic registration pathways, disclosure requirements, and strategic enforcement of regulations.