CoinShares Aims for Spot XRP & Litecoin ETF Approval in Latest SEC Filing

CoinShares has filed an application with the SEC to list spot LTC and XRP ETFs.
Bitwise, ProShares, WisdomTree, and REX Shares have already filed for spo XRP ETFs.
Litecoin (LTC) prices shot up 8.36% in the past 24 hours to $124.26 and the altcoin eyes $140.

CoinShares, a major player in crypto exchange-traded products (ETPs), just applied to offer spot Litecoin and XRP ETFs in the United States. The launch of these altcoin investment vehicles could drive a wave of digital asset adoption this year.

Bloomberg ETF analyst Eric Balchunas announced on X (formerly Twitter) that CoinShares is looking to offer spot XRP and LTC ETFs. The filing states that the firm wants to give investors exposure to Litecoin (LTC) and XRP without the hassle of direct custody and creating a crypto wallet.

It’s worth noting that Bitwise, ProShares, WisdomTree, and REX Shares have also filed for spot XRP ETFs in the US. Meanwhile, Grayscale has filed to convert its Solana (SOL) investment trust to a spot Solana (SOL) ETF. The decision was expected on January 23rd, but there’s been no word yet, suggesting the agency needs more time.

In its filing, Grayscale addressed the SEC’s concerns about altcoin ETFs under former chair Gary Gensler. The firm clarified the infrastructure and custody of its proposed spot SOL ETF offering.

Litecoin (LTC) Price Analysis

According to CoinMarketCap data, LTC is currently trading at $124.26, up 8.36% in the past 24 hours. The altcoin is up 89.32% in the past year but hasn’t performed as well as some of its peers.

Litecoin accumulation levels started rising in November and have been on an uptrend since then. The trend suggests a gradual increase in accumulation. After a dip in volume in late December and early January, volumes have rebounded.

The Relative Strength Index (RSI) for LTC is at 58.59, which means the bulls are in control. The RSI trend suggests that buyers are gaining momentum, and there’s a good chance of higher prices soon.

The MACD indicator avoided a bearish divergence as the MACD line (blue) just turned away from the signal line (red). The MACD histogram also remains green, increasing the chances of LTC breaking out above $140.

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