KeyTakeaway:
- Nasdaq submits 19b-4 forms to list CoinShares’ XRP and Litecoin ETFs.
- CoinShares’ XRP and Litecoin ETFs are expected to drive institutional adoption.
- Grayscale and BlackRock also join the push for altcoin ETF approval.
Nasdaq has submitted 19b-4 forms with the U.S. Securities and Exchange Commission (SEC) to list CoinShares’ XRP and Litecoin exchange-traded funds (ETFs). The move is expected to provide investors fresh opportunities to tap into the growing cryptocurrency market. This submission marks a significant step in enhancing institutional participation in Nasdaq’s involvement with digital asset ETFs.
The filing, made on January 10, 2025, proposes to list CoinShares’ XRP and Litecoin ETFs under Nasdaq Rule 5711(d), which governs the listing of Commodity-Based Trust Shares.
This action follows CoinShares’ S-1 filing to launch these ETFs, signaling a broader acceptance of digital currencies in traditional financial markets. As the crypto market evolves, this filing highlights Nasdaq’s commitment to offering regulated products that facilitate cryptocurrency investments.
Institutional Optimism Grows Amid Regulatory Shifts
The push for approval of XRP and Litecoin ETFs comes at a time of increasing optimism surrounding crypto in the U.S. This follows the successful launch of Bitcoin and Ethereum ETFs in recent months, which set a precedent for the approval of other digital asset ETFs.
Experts, including Bloomberg’s senior ETF analyst Eric Balchunas, anticipate that the Litecoin ETF will make history as the first altcoin ETF approved by the Trump administration. Regulatory shifts and a supportive crypto stance have bolstered expectations for future approvals, contributing to a more favorable environment for crypto-focused ETFs.
Other Major Players Join the Crypto ETF Race
Nasdaq’s filing is part of a larger trend, as other significant players in the financial space are also pursuing altcoin ETFs. Grayscale Investments has filed to convert its Solana Trust and Litecoin Trust into ETFs, while BlackRock is revising its iShares Bitcoin Trust ETF.
The Chicago Board Options Exchange (CBOE) has filed 19b-4 forms for XRP ETFs from multiple firms, including Bitwise, Canary Capital, 21Shares, and WisdomTree. These filings reflect a growing institutional interest in crypto investment vehicles.
