XRP ETF Filing by CoinShares Marks Key Step for U.S. Market Entry

TLDR

• CoinShares has officially filed to list its XRP ETF under the ticker XRPL on Nasdaq.
• The filing confirms partnerships with BitGo as custodian and Valkyrie Funds LLC as the seed capital investor.
• The trust structure will not involve staking, so investors will not earn any staking rewards.
• The SEC is expected to decide on multiple XRP ETF applications between October 18 and October 25.
• Institutional inflows into XRP totaled $61.6 million last week, showing strong investor interest.

CoinShares has submitted a proposal to list the CoinShares XRP ETF (ticker: XRPL) on Nasdaq. This filing comes after years of regulatory uncertainty, marking a breakthrough for U.S. institutional access to XRP. The move could significantly expand XRP adoption if the SEC grants approval in the coming days.

CoinShares Seeks Nasdaq Listing With Strategic Support

CoinShares filed the XRP ETF application with the SEC on October 14, naming XRPL as the official ticker. The firm partnered with BitGo as custodian and Valkyrie Funds LLC as the seed capital investor. However, the filing did not disclose the exact amount of XRP committed by Valkyrie.

The XRP ETF trust structure does not involve staking, so investors will not earn staking rewards or blockchain-generated income. CoinShares confirmed the trust’s focus is on transparency, security, and compliance within a well-regulated environment.

To ensure strong operational support, CoinShares listed CSC Delaware Trust Company as trustee and U.S. Bancorp Fund Services as administrator. U.S. Bank NA will serve as cash custodian, and Paralel Distributors will lead marketing efforts. These partnerships aim to build a reliable foundation for the proposed XRP ETF.

SEC Faces Key Deadlines on XRP ETF Decisions

The SEC’s deadline for ruling on Grayscale’s spot XRP ETF application arrives this week. Decisions on similar XRP ETF filings from CoinShares, Bitwise, 21Shares, WisdomTree, and Canary Capital are expected between October 18 and 25. Analysts expect multiple approvals if the government resolves its budget deadlock in a timely manner.

Approving several XRP ETF proposals could mirror earlier actions on Bitcoin and Ethereum ETFs. Jane Whitfield, a crypto analyst, stated, “Simultaneous approvals would be a watershed moment for institutional access to XRP.” CoinShares’ filing could lead the way among applicants if the SEC acts favorably.

As more institutions show interest, pressure builds on regulators to finalize decisions. Industry observers believe that approval could lead to broader institutional participation in XRP. The next few days may prove pivotal for the XRP ETF landscape in the U.S.

Institutional Demand for XRP Grows Amid Filing Activity

Institutional flows into XRP reached $61.6 million last week, signaling strong investor positioning. XRP ranked among the highest in weekly inflows across digital assets during the same period. Despite a 20% drop in volume, XRP price rose 1% to trade near $2.50.

CoinShares’ XRP ETF application has amplified market interest ahead of a potential SEC green light. Experts believe approval could bring XRP into mainstream financial markets through traditional investment channels. “Institutional investors are watching closely,” Whitfield added.

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