Nasdaq Files for CoinShares XRP & Litecoin ETFs

Nasdaq Seeks SEC Approval for CoinShares Crypto ETFs

Nasdaq has filed Form 19b-4 applications with the SEC, aiming to list and trade two exchange-traded products (ETPs) from CoinShares: the CoinShares XRP ETF and the Litecoin ETF. These ETFs would offer investors exposure to XRP and Litecoin (LTC).

CoinShares, a prominent European digital asset investment firm, seeks to expand its US market presence. This move leverages anticipated regulatory shifts under the current administration.

Key Developments

• Form 19b-4 filings: Nasdaq submitted these applications to the SEC for listing approval.
• CoinShares' ambition: The firm aims to capitalize on the evolving regulatory landscape.
• Litecoin's potential advantage: Litecoin's lack of SEC legal disputes and CFTC commodity classification might expedite approval. Bloomberg ETF analyst Eric Balchunas suggests it could be the first spot crypto ETF approved in the current era. The CFTC labeling Litecoin as a commodity in its KuCoin lawsuit could provide this advantage by exempting it from SEC securities regulations.
• High approval odds: Polymarket indicates an over 80% probability of Litecoin ETF approval this year. Check Polymarket odds here.

This follows CoinShares’ S-1 filing last month. Ticker symbols for the proposed ETFs remain unannounced. Several other major US asset managers are also pursuing SEC approval for their own crypto ETFs. Last week, Cboe submitted four 19b-4 filings for spot XRP ETFs.

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