Crypto ETF Filings Surge as U.S. Market Awaits Regulatory Decisions

• The U.S. sees increasing ETF applications for XRP, Solana, and Litecoin as regulatory reviews progress.
• The SEC initiated a public comment period for Litecoin ETF applications, raising market optimism for approval.
• Bloomberg’s James Seyffart suggests Litecoin’s ETF may be approved before XRP due to regulatory classification differences.

The number of cryptocurrency exchange-traded fund (ETF) filings in the United States continues to rise as the new administration oversees regulatory decisions. Bitcoin was the first cryptocurrency to secure ETF approval on traditional financial markets in 2024. Now, filings for XRP, Solana, and Litecoin ETFs are drawing attention.

Grayscale and Canary Capital Lead ETF Filings

The crypto ETF market received substantial filings from Grayscale and Canary Capital. The $16.1 million XRP Trust managed by Grayscale submitted an application to convert into an XRP Spot ETF. The regulatory body has received a Litecoin ETF application from Canary Capital.

A recent post from Litecoin’s official X account confirmed that three separate Litecoin ETF filings have been made by Canary Capital, CoinShares, and Grayscale. Market optimism increased when the U.S. Securities and Exchange Commission (SEC) advanced the review process for Litecoin ETF applications by initiating a public comment period.

Analyst Predicts Litecoin ETF Approval Before XRP

The wave of ETF filings has sparked discussions among industry leaders and market analysts. Bloomberg ETF analyst James Seyffart has analyzed the regulatory outlook for these filings, offering insights on potential approval timelines.

Seyffart stated that while an XRP ETF approval is possible in 2025, other cryptocurrency ETFs may receive approval first. He noted that the SEC has never classified Litecoin as a security, a distinction that could streamline its approval process.

Seyffart explained that there’s some more work that needs to be done on that front that doesn’t need to happen with something like Litecoin, as the SEC has never called Litecoin a security, and he would not be surprised to see Litecoin come first.
Despite these industry expectations, Ripple President Monica Long expressed confidence that an XRP ETF would receive regulatory approval soon. She indicated that the XRP ETF could be next in line, reinforcing optimism among investors and market participants.