Nasdaq Pushes for CoinShares XRP ETF Approval

In a recent update, Nasdaq has officially filed 19b-4 forms with the SEC to list two new CoinShares exchange-traded products: the CoinShares XRP ETF and Litecoin ETF. These funds would offer investors an easy way to gain exposure to two well-known cryptocurrencies, XRP and Litecoin.

This move follows CoinShares’ submission of S-1 forms to the SEC last month, requesting approval for its spot XRP and Litecoin ETFs. Notably, the filing, submitted on February 10, represents a significant move toward institutional adoption of XRP.

Growing Trend Of ETF Filings

This could boost the tokens’ liquidity, attract fresh capital, and potentially cause a short-term price pump as traders eye regulatory approval and increased market exposure. The CoinShares ETF proposal is part of a trend of similar filings for cryptocurrency-based exchange-traded products. This filing is particularly significant because the SEC has previously rejected Solana ETF filings, making its decision on the XRP ETF closely watched by the market.

If the SEC approves the listing, it could increase access to XRP, boosting liquidity and investor interest. Analysts are watching closely, as this could set a precedent for future crypto ETFs and attract more institutional investment. This development is key for both Nasdaq and cryptocurrency stakeholders, reflecting the evolving regulation of digital assets.

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Asset Managers Hopping In To ETFs

Big-name U.S. asset managers are also jumping in, hoping for approval of their own crypto ETFs. Just last week, Cboe filed four 19b-4 requests with the SEC to allow the listing of spot XRP ETFs from WisdomTree, Bitwise, 21Shares, and Canary.

The Litecoin ETF is expected to be the first spot crypto ETF approved during the Trump era. Besides, Litecoin may have an edge over other assets due to its lack of legal issues with the SEC, and the CFTC’s classification of it as a commodity.