Nasdaq Submits CoinShares Ripple and Litecoin Spot ETF Review Request

Son Min

Summary

Nasdaq has reportedly submitted a review request for CoinShares Ripple and Litecoin spot ETFs to the SEC.
The Litecoin spot ETF is evaluated to have a high possibility of being launched as it is not involved in legal disputes with the SEC.
The CFTC classifying Litecoin as a commodity is expected to act as a positive factor.

Nasdaq has submitted a review request (19b-4) to the U.S. Securities and Exchange Commission (SEC) for CoinShares Ripple (XRP) and Litecoin (LTC) spot ETFs.

On the 9th (local time), Crypto Briefing reported that "Nasdaq aims to strengthen its position in the U.S. virtual asset (cryptocurrency) market through the latest ETF listing," stating that Nasdaq has submitted a review request to the SEC for CoinShares XRP spot ETF and LTC spot ETF. Previously, CoinShares had submitted a securities registration statement (S-1) for the two ETFs.

The media outlet evaluated that "especially the Litecoin spot ETF has a high possibility of being launched" because "unlike Ripple, it is not involved in legal disputes with the SEC." Additionally, the fact that the U.S. Commodity Futures Trading Commission (CFTC) classifies Litecoin as a commodity rather than a security is also a positive factor.

Meanwhile, Eric Balchunas, a Bloomberg analyst, had previously pointed out Litecoin as the first virtual asset spot ETF to be approved during the Trump Administration.

XRP

LTC