Nasdaq Seeks SEC Approval for XRP & Litecoin ETFs
Nasdaq has filed an software with the U.S. Securities and Alternate Fee (SEC) to record and commerce two new cryptocurrency exchange-traded funds (ETFs) from CoinShares, one for XRP and one for Litecoin.
On January 20, Nasdaq submitted this submitting, which is called 19b-4, and it’s required for an trade to introduce new monetary merchandise.
The submitting says, “The Alternate proposes to record and commerce the Shares below Nasdaq Rule 5711(d), which governs the itemizing and buying and selling of Commodity-Primarily based Belief Shares on the Alternate.”
In January, CoinShare submitted S-1 type for the launch of XRP and Litecoin ETFs. This transfer comes after the profitable launch of Bitcoin and Ethereum ETFs final yr.
Nasdaq’s transfer displays rising confidence from traders and exchanges within the crypto market’s development and altering U.S. laws. It has elevated pleasure in regards to the potential launch of XRP and Litecoin ETFs quickly.
Bloomberg’s senior ETF analyst, Eric Balchunas, famous that the Litecoin ETF might be the primary altcoin ETF approval below the Trump administration. As a consequence of Trump’s optimistic stance on cryptocurrency and anticipated regulatory adjustments, the optimism for crypto ETFs has elevated.
Grayscale has applied for its Solana and Litecoin Trusts ETFs, whereas BlackRock additionally plans to replace its iShares Bitcoin Belief ETF.
As well as, CBOE BZX Alternate has submitted 19b-4 applications for XRP ETFs with Bitwise, Canary Capital, 21Shares, and WisdomTree. Given the SEC’s present crypto-friendly stance, the file is prone to be permitted.
