BREAKING: CoinShares XRP ETF (XRPL) Files with US SEC for Nasdaq Listing

CoinShares XRP ETF is gearing up for launch as the issuer amends its application to disclose the ticker and additional details ahead of Nasdaq listing. The U.S. Securities and Exchange Commission (SEC) will announce its final decision on CoinShares spot XRP ETF next week, with the final deadline for Grayscale’s XRP exchange-traded fund due this week.

CoinShares XRP ETF Files with the US SEC

According to a US SEC filing dated October 14, CoinShares submitted an S-1 form to announce XRPL as the ticker as it prepares to list on Nasdaq. The issuer has not yet disclosed the management fee and is likely waiting for other issuers to reveal their fee. However, there are mentions of the sponsor fee payable in XRP, with terms still awaited.

Moreover, the issuer revealed BitGo as the custodian and Valkyrie Funds LLC as a seed capital investor. The details about XRP purchased by Valkyrie were not disclosed in the filing. The trust has updated language, risk factors, and other details, including staking.

“The Trust will not directly or indirectly participate in any staking program, and accordingly the shareholders will not receive any staking rewards or other income,” as per the filing.

Other details disclosed in the filings include CSC Delaware Trust Company as the trustee, U.S. Bancorp Fund Services as transfer agent and administrator, Paralel Distributors as marketing agent. Also, U.S. Bank NA is the cash custodian of the Trust.

XRP ETF May Get Approval This Week

Six spot XRP ETF decisions are due between October 18 and 25, with the SEC’s final deadline for a decision on Grayscale’s ETF due this week. Decisions on 21Shares, Bitwise, WisdomeTree, CoinShares, and Canary Capital applications are due next week. However, experts believe the commission could greenlight all XRP ETF listings this week with Grayscale, pending the end of the US government shutdown.

Notably, institutional investors remain upbeat on ETF approval as XRP continues to record strong buying. As CoinGape reported, XRP funds saw strong inflows of $61.6 million last week despite the largest-ever crypto market crash.

At press time, XRP price rebounded 1% over the past 24 hours, with the price currently trading sideways above $2.50. The 24-hour low and high are $2.41 and $2.53, respectively. Furthermore, trading volume has dropped by 20% in the last 24 hours.