Key Takeaways
Nasdaq plans to list and trade CoinShares XRP and Litecoin ETFs.
Nasdaq has officially filed 19b-4 forms with the SEC, seeking approval to list and trade two exchange-traded products from CoinShares, namely the CoinShares XRP ETF and Litecoin ETF. These proposed funds aim to provide investors with exposure to XRP and Litecoin (LTC), two well-established cryptocurrencies.
The leading European digital asset investment firm intends to expand its presence in the US market by offering these new products, taking advantage of favorable regulatory changes indicated by the new administration.
These updates come after CoinShares’ S-1 filing submission last month. The ticker symbols for the proposed funds have not yet been announced.
In addition to CoinShares, prominent US asset managers are also positioning themselves to seek approval for their own crypto ETFs.
Just last week, Cboe submitted four 19b-4 filings to the SEC, requesting a rule change to allow the listing and trading of spot XRP ETFs managed by WisdomTree, Bitwise, 21Shares, and Canary.
According to Bloomberg ETF analyst Eric Balchunas, the Litecoin ETF is likely to be the first spot crypto ETF approved during the Trump era.
Compared to other cryptocurrencies, Litecoin may have a regulatory advantage, as it has not been involved in any legal disputes with the SEC. Furthermore, the CFTC has classified Litecoin as a commodity in its lawsuit against crypto exchange KuCoin, thereby exempting it from the SEC’s securities regulations.
Current odds on Polymarket indicate a likelihood of over 80% for the approval of the Litecoin ETF this year, reflecting traders’ expectations of its launch.
