Nasdaq has filed an utility with the U.S. Securities and Trade Fee (SEC) to listing 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 named 19b-4, and it’s required for an change to introduce new monetary merchandise.
The submitting says, “The Trade proposes to listing and commerce the Shares beneath Nasdaq Rule 5711(d), which governs the itemizing and buying and selling of Commodity-Based mostly Belief Shares on the Trade.”
In January, CoinShare submitted S-1 kind 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 progress and altering U.S. rules. 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 could possibly be the primary altcoin ETF approval beneath the Trump administration. Resulting from Trump’s optimistic stance on cryptocurrency and anticipated regulatory modifications, 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 Trade 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.
