The post CoinShares Files XRP ETF for Nasdaq, Boosting Institutional XRP Investment in the U.S. appeared first on Coinpedia Fintech News
After a decade-long legal battle with the SEC, the race for a U.S. spot XRP ETF is heating up. CoinShares has officially filed its application to list the CoinShares XRP ETF (ticker: XRPL) on Nasdaq, marking a major step toward bringing institutional XRP investment to American investors.
CoinShares Finalizes Key Details Ahead of Nasdaq Debut
In a recent SEC filing dated October 14, CoinShares confirmed XRPL as the official ticker for its proposed ETF. The document highlighted strategic partnerships, including BitGo as the crypto custodian and Valkyrie Funds LLC as the seed capital investor. While the exact amount of XRP purchased by Valkyrie was not disclosed, these moves signal growing institutional confidence in XRP.
Speaking on the filing, a CoinShares spokesperson stated, “Our mission is to make XRP accessible to institutional investors in the U.S., with a fully compliant, transparent, and secure framework. This filing represents a major milestone for both CoinShares and the broader crypto ecosystem.”
The filing clarified that the trust will not participate in staking, meaning investors will not receive staking rewards or income generated from network participation. It also listed CSC Delaware Trust Company as trustee, U.S. Bancorp Fund Services as transfer agent and administrator, U.S. Bank NA as cash custodian, and Paralel Distributors as marketing agent, creating a robust operational structure ahead of potential SEC approval.
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SEC Set to Deliver Final Verdict on Multiple XRP ETF Applications
The coming week is crucial for XRP ETF hopefuls. The SEC’s final deadline for Grayscale’s spot XRP ETF arrives this week, followed by decisions on CoinShares, 21Shares, Bitwise, WisdomTree, and Canary Capital between October 18 and 25.
Market analysts predict the regulator may approve multiple XRP ETFs simultaneously, particularly if the U.S. government resolves its ongoing budget deadlock. “Approval of multiple XRP ETFs would be a watershed moment, similar to Bitcoin and Ethereum ETFs earlier this year,” said crypto analyst Jane Whitfield.
XRP Price Remains Strong Amid Institutional Inflows
Despite recent market volatility, XRP continues to attract heavy institutional inflows, totaling $61.6 million last week alone, among the highest across digital assets. This surge suggests investors are positioning themselves ahead of possible ETF approvals.
At the time of writing, XRP trades around $2.50, up 1% in the past 24 hours, with trading volumes down slightly by 20%. Market experts note that CoinShares’ XRP ETF Nasdaq filing could become a key catalyst, bridging the gap between traditional finance and the rapidly maturing digital asset sector.
“Institutional investors are watching closely. An SEC-approved XRP ETF could open the doors for widespread U.S. participation in XRP markets,” added Whitfield.
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FAQs
An XRP ETF is a fund traded on stock exchanges that tracks XRP’s price, letting you invest without directly buying or storing the cryptocurrency itself through a traditional brokerage account.
An SEC-approved XRP ETF is widely expected to be a major price catalyst, likely boosting value by enabling easy access for a vast new pool of U.S. institutional and retail investors.
No, the proposed XRP ETFs, like the one from CoinShares, explicitly state they will not participate in staking. Investors would not earn staking rewards from the underlying XRP holdings.