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CoinShares filed a request with the SEC for spot LTC and ETFs based on XRP.
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Bitwise ProShares WisdomTree and REX Shares are already filing for spo XRP exchange traded funds.
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Litecoin’s (LTC) price has risen 8.36% over the last 24 hours, to $124.26. The altcoin is now heading for $140.
CoinShares, a major player of crypto exchange-traded product (ETPs), has just applied to offer Litecoin ETFs and XRP spot ETFs in the United States. The launch of these altcoin investments vehicles could lead to a wave of digital assets adoption this year.
Eric Balchunas, Bloomberg ETF analyst, announced on X.com (formerly Twitter), that CoinShares was looking to offer spot XRP ETFs and LTC ETFs. The filing states that CoinShares wants to provide investors with exposure to Litecoin(LTC) and XRP, without the hassle of creating a crypto wallet and direct custody.
Bitwise, ProShares WisdomTree and REX shares have also filed for spot ETFs of XRP in the US. Grayscale filed to convert their Solana investment trust into a spot Solana ETF. The decision was supposed to be made on January 23, but no word has been received, suggesting that the agency still needs time.
Grayscale’s filing addressed the SEC concerns regarding altcoin ETFs that were under the former chairman Gary Gensler. The firm clarified its infrastructure and custody for its proposed spot SOL ETF.
Related: Litecoin ETF approval in sight as SEC reviews Nasdaq filing
Litecoin Price Analysis
According to CoinMarketCap, LTC currently trades at $124.26, an increase of 8.36% over the last 24 hours. The altcoin has risen 89.32% over the past year, but not as well as its peers.
Since November, Litecoin’s accumulation levels have been increasing. The trend indicates a gradual accumulation. After a dip of volume in late December or early January, the volumes have rebounded.
The Relative Strength Index for LTC is 58.59. This means that the bulls have control. The RSI trend indicates that buyers are gaining strength, and there is a good chance for higher prices in the near future.
Related: Litecoin Price Prediction: The Digital Silver’s Next Step?
The MACD indicator avoided the bearish divergence, as the MACD line just turned away from signal line (red). The MACD histogram is also green, increasing the likelihood of LTC breaking above $140.
