Nasdaq Seeks SEC Approval for XRP & Litecoin ETFs
Nasdaq’s move reflects growing confidence from investors and exchanges in the crypto market’s growth and changing U.S. regulations.
Nasdaq has filed an application with the U.S. Securities and Exchange Commission (SEC) to list and trade two new cryptocurrency exchange-traded funds (ETFs) from CoinShares, one for XRP and one for Litecoin.
On January 20, Nasdaq submitted this filing, which is known as 19b-4, and it is required for an exchange to introduce new financial products.
The filing says, “The Exchange proposes to list and trade the Shares under Nasdaq Rule 5711(d), which governs the listing and trading of Commodity-Based Trust Shares on the Exchange.”
In January, CoinShare submitted an S-1 form for the launch of XRP and Litecoin ETFs . The latest filling has increased confidence from investors and exchanges in the crypto market. The growth and changing of U.S. regulations have increased excitement about the potential launch of XRP and Litecoin ETFs soon.
Bloomberg’s senior ETF analyst, Eric Balchunas, noted that the Litecoin ETF could be the first altcoin ETF approval under the Trump administration. Due to Trump’s positive stance on cryptocurrency and expected regulatory changes, the optimism for crypto ETFs has increased.
Grayscale has applied for its Solana and Litecoin Trusts ETFs, while BlackRock also plans to update its iShares Bitcoin Trust ETF.
In addition, CBOE BZX Exchange has submitted 19b-4 applications for XRP ETFs with Bitwise, Canary Capital, 21Shares, and WisdomTree. Given the SEC’s current crypto-friendly stance, the file is likely to be approved.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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