Key Takeaways
- Nasdaq plans to list and trade CoinShares XRP and Litecoin ETFs.
- Litecoin ETFs have a high probability of launching due to fewer regulatory hurdles.
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Nasdaq has formally filed 19b-4 forms with the SEC, seeking approval to list and trade two exchange-traded products from CoinShares, the CoinShares XRP ETF and Litecoin ETF. The proposed funds would provide investors exposure to XRP and Litecoin (LTC), two established crypto assets.
The leading European digital asset investment firm aims to expand its presence in the US market with new offerings, taking advantage of favorable regulatory changes signaled by the new administration.
These updates follow CoinShares’ S-1 filing submission last month. The ticker symbols for the proposed funds are not yet available.
Not only CoinShares, big-name US asset managers are also lining up, hoping to get the green light for their own crypto ETFs.
Just last week, Cboe submitted four 19b-4 filings with the SEC to request a rule change allowing the listing and trading of spot XRP ETFs managed by WisdomTree, Bitwise, 21Shares, and Canary.
Litecoin ETF is on track to be the first spot crypto ETF approved in the Trump era, according to Bloomberg ETF analyst Eric Balchunas.
Compared to other crypto assets in the lineup, Litecoin may have a regulatory advantage, as it has not been involved in legal disputes with the SEC. Plus, the CFTC has labeled Litecoin as a commodity in its lawsuit against crypto exchange KuCoin, thereby exempting it from the SEC’s securities regulations.
Polymarket odds currently place the likelihood of Litecoin ETF approval this year above 80%, reflecting traders’ expectations of a launch.
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