Nasdaq Files With SEC for CoinShares XRP and Litecoin ETFs

Nasdaq has submitted 19b-4 forms to the U.S. Securities and Exchange Commission (SEC) to launch Exchange-Traded Funds (ETFs) for CoinShares’ XRP and Litecoin. 

This follows CoinShares’ earlier request to start both XRP and Litecoin ETFs. These steps are also crucial for increasing the institutional use of digital assets and giving investors an easier way to invest in two popular cryptocurrencies.

CoinShares Anticipate an Approval Soon

The proposed exchange-traded funds (ETFs) would let institutional and retail investors trade XRP and Litecoin like they trade regular stocks. This could change how investors look at cryptocurrencies. 

Furthermore, Nasdaq’s filing of 19b-4 forms is vital for getting approval for the proposed ETFs. These forms describe how the ETFs will be set up, managed, and traded. 

The SEC will review these filings to ensure they meet U.S. securities laws. If the SEC approves them, CoinShares’ XRP and Litecoin ETFs could pave the way for other cryptocurrency ETFs. This could help connect traditional financial markets with the fast-changing world of digital assets.

CoinShares Capitalize on the Growing Market

Recall that the investment firm moved further in its vision to establish its presence in the United States crypto market with the Valkyrie Bitcoin (BTC) ETF acquisition . 

The deal also gave CoinShares access to Valkyrie’s $530 million assets under management (AUM). It gained sponsor rights to the Valkyrie Bitcoin Fund , the physically-backed BTC ETF that was recently launched.

Notably, the move is pivotal and in alignment with the firm’s plan to build a global asset management franchise. Leveraging Valkyrie’s established platform, expertise, and user base are some of the perks of the deal.

SEC is Yet to Acknowledge XRP Fund Applications

So far, the SEC has received ETF applications from Bitwise, Canary Capital, 21Shares, and WisdomTree in this sequence. 

The first applicant, Bitwise, moved toward a spot XRP ETF product in Delaware in October 2024 before filing with the regulator. Canary Capital’s filing followed barely a week after, and that of 21Shares came the following month .

Meanwhile, the SEC has not publicly acknowledged any of these XRP ETF filings. While the crypto community awaits the agency’s decision, Polymarket participants are also placing bets on Solana (SOL), Dogecoin (DOGE), and Litecoin (LTC) ETFs.