Leading digital asset manager CoinShares applies with the United States Securities and Exchange Commission (SEC) to launch XRP exchange-traded fund (ETF).
CoinShares submitted the application yesterday in a bid to provide investors with a cost-effective way to invest in XRP.
Details of the Filing
Dubbed the CoinShares XRP ETF, the fund aims to track XRP’s performance, as reflected by the Compass Crypto Reference Index XRP. This index represents the value of XRP at 4 PM (NY Time).
Per the filing, CoinShares serves as the official sponsor of the XRP ETF, while CSC Delaware Trust Company is assigned as the fund’s trustee. Currently, CoinShares has not disclosed the administrator, transfer and marketing agents, and custodian of the ETF.
If the SEC approves CoinShares’ application, shares of the XRP ETF will trade on Nasdaq under an undisclosed ticker. The filing indicates that CoinShares’ XRP ETF shares will be issued in blocks of 5,000 and can be purchased by only authorized participants.
According to the filing, an unnamed seed capital investor, an affiliate of CoinShares, initiated the fund following its initial purchase of an undisclosed amount of shares.
Notably, CoinShares redeemed the seed shares for cash. The filing also highlighted the risk of investing in the upcoming XRP ETF, noting that investors could lose all their money.
Multiple XRP ETF Applications
It bears mentioning that several asset managers are seeking to launch spot-based ETFs linked to XRP.
Seven applications have been submitted to the SEC for ETFs exclusively tied to XRP. The prospective issuers include Bitwise, Canary Capital, WisdomTree, 21Shares, Rex Osprey, ProShares, and CoinShares.
Besides these single-asset proposals, Bitwise and Grayscale are also seeking to launch basket ETFs featuring multiple crypto assets, including XRP. So far, the SEC has not acknowledged any of the XRP-specific ETF applications. However, the commission has acknowledged the two basket ETFs that include XRP and other crypto assets.
XRP Holders Optimistic About SEC Approval
Despite this, XRP proponents have remained optimistic that the SEC will approve at least one XRP-specific ETF before the end of 2025. This speculation gained momentum following Donald Trump’s inauguration as president of a pro-crypto administration.
Notably, the 47th U.S. President has also nominated other pro-crypto advocates into top positions, including Paul Atkins as the next chairman of the SEC.
Atkins is expected to contribute significantly to providing clear and fair regulation for the crypto industry. Some investors also speculate that his leadership could resolve most of the enforcement actions against crypto businesses, including the Ripple lawsuit.
This case is currently under appeal in the Second Circuit. While the SEC filed its opening appeal brief on January 15, Ripple requested a deadline of April 16, 2025, for the filing of its cross-appeal brief.
A potential resolution of the lawsuit through a settlement or favorable court ruling could pave the way for the launch of XRP ETFs.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Source: https://thecryptobasic.com/2025/01/25/coinshares-joins-xrp-etf-race-submits-filing-with-sec/?utm_source=rss&utm_medium=rss&utm_campaign=coinshares-joins-xrp-etf-race-submits-filing-with-sec