New York-based stock exchange Nasdaq submits two 19b-4 forms with the U.S. SEC to list and trade shares of CoinShares’ prospective XRP and Litecoin ETFs.
The exchange submitted the applications today, indicating that it plans to list and trade shares of CoinShares’ XRP ETF and the Litecoin ETF. Nasdaq’s filing comes two weeks after CoinShares applied with the SEC to launch separate spot-based ETFs for XRP and Litecoin.
As previously reported, CoinShares indicated that its prospective XRP and Litecoin ETFs will trade on Nasdaq. At the time, the exchange did not immediately back up CoinShares’ filings with 19b-4 applications. Two weeks later, Nasdaq officially submitted the applications to list shares of CoinShares’ XRP and Litecoin ETFs.
Nasdaq 19b-4 Filings
Per the filings, the exchange seeks to list the ETFs under Nasdaq Rule 5711 (d), which governs Commodity-based Trust Shares. CoinShares’ XRP ETF and Litecoin ETF will be structured as Delaware Statutory Trusts, established on December 10, 2024.
While the CSC Delaware Trust company will serve as trustees of both ETFs, CoinShares will be the sponsor. An undisclosed third party will hold the XRP and Litecoin assets of the ETFs.
Only authorized investors will be allowed to create and redeem shares of the CoinShares XRP and Litecoin ETFs if approved. This will be done in blocks of 5,000 shares.
Furthermore, both ETFs will serve as passive trusts, holding their underlying assets- XRP and Litecoin- and cash. They will track the performance of XRP and Litecoin based on their respective Compass Crypto Reference Indexes.
Other XRP and Litecoin ETF Prospective Issuers
Besides CoinShares, other prospective issuers are also seeking to launch ETFs tied to XRP and Litecoin in the United States.
Last week, Cboe BZX Exchange submitted four 19b-4 applications with the SEC to list and trade shares of XRP ETFs issued by Bitwise, 21Shares, WisdomTree, and Canary Capital.
Similarly, other prospective issuers, including Canary, have filed to launch Litecoin ETFs in the U.S. According to Canary, its prospective Litecoin ETF will also trade on the Nasdaq stock exchange.
Litecoin is Next in Line for ETF Approval
Several prospective issuers have filed to launch ETFs linked to assets like Solana, XRP, Dogecoin, and Litecoin since the new U.S. administration.
Amid the numerous applications, Bloomberg analyst Eric Balchunas speculated that Litecoin could be the next crypto the SEC will approve for a spot ETF.
The rationale behind this speculation is that the SEC has never labeled Litecoin an unregistered security. Also, the coin, which was created as a Bitcoin fork, has several similarities to the premier cryptocurrency, which secured the first spot ETF approval in the U.S. last year.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
