Asset management firm Grayscale applied to the US Securities and Exchange Commission (SEC) to list shares of the Grayscale Litecoin (LTC) Trust as an exchange-traded product (ETP) on the New York Stock Exchange (NYSE) Arca on Feb. 6.
According to Grayscale, the Litecoin Trust has over $215 million in assets under management — making it the largest Litecoin investment vehicle.
The asset management firm argued that the trust in its current form does not accurately track the value of the underlying assets in the fund.
Applications for crypto exchange-traded funds (ETFs) and ETPs from asset management firms increased sharply following the reelection of President Donald Trump in the United States and new leadership at the SEC.
Grayscale’s petition to convert its Grayscale Litecoin Trust to an ETP and list the shares on the NYSE Arca. Source: SEC
Related: Grayscale Bitcoin Mini Trust ETF AUM crosses $4B
Crypto ETF applications surge under Trump administration
Bitwise, an asset management firm focused on digital asset investments, submitted an application to the SEC for a Dogecoin (DOGE) ETF on Jan. 28.
Tuttle Capital — a US-based investment advisory firm — filed for 10 different leveraged crypto ETFs in January 2025.
The ETF applications included proposed leveraged investment vehicles for Solana (SOL), XRP (XRP), Chainlink (LINK), Polkadot (DOT), ADA (ADA), and others.
“Now we have a pro-crypto US Administration, President, Czar, and SEC, I believe we could be on the verge of a golden age of crypto,” Tuttle Capital CEO Matthew Tuttle told Cointelegraph.
President Donald Trump makes pro-Bitcoin and pro-crypto promises at the Bitcoin 2024 conference. Source: Cointelegraph
Asset management company 21Shares also filed for a Polkadot ETF following the inauguration of Donald Trump.
The application petitioned the SEC for the right to list shares of the proposed DOT ETF on the Chicago Board Options BZX Exchange (CBOE) and named Coinbase as the custodian for the fund’s underlying digital assets.
Crypto.com’s 2025 roadmap also revealed plans to apply for a Cronos ETF this year, which would track the price of Crypto.com’s native asset, Cronos (CRO).
The Trump Media and Technology Group (TMTG), a company partly owned by the President of the United States, submitted multiple applications for ETFs on Feb. 6.
The applications included, but were not limited to, trademarks for the Truth.Fi Made in America ETF, Truth.Fi US Energy Independence ETF, and Truth.Fi Bitcoin Plus ETF.
Magazine: Bitcoin ETFs make Coinbase a ‘honeypot’ for hackers and governments: Trezor CEO