Catenaa, Saturday, February 08, 2025 – The US Securities and Exchange Commission(SEC) is seeking public comments on a proposal to convert Grayscale’s Litecoin Trust into an exchange-traded product, signaling continued developments in crypto ETF regulation.
In a filing Thursday, the Securities and Exchange Commission acknowledged NYSE Arca’s request on behalf of Grayscale and set a 21-day window for public comments after the proposal is published in the Federal Register. The agency may then approve, reject, or initiate further review.
NYSE Arca also filed for a Grayscale Solana Trust ETF as part of the standard 19b-4 process, which marks the second step in seeking regulatory approval for spot crypto ETFs.
The move follows a surge of crypto ETF filings in recent weeks, including those tied to Dogecoin and other altcoins. Industry players appear hopeful that the recent leadership change at the Securities and Exchange Commission could create a more favorable regulatory environment.
Following the departure of former SEC Chair Gary Gensler, acting Chair Mark Uyeda appointed Commissioner Hester Peirce to lead a crypto task force. Peirce has pledged to clarify regulations surrounding digital assets and improve transparency in the approval process for crypto-related financial products.
