CoinShares has officially submitted an application to launch its own XRP ETF, aiming to provide investors with a cost-effective way to gain exposure to the digital asset. If approved by the U.S. Securities and Exchange Commission (SEC), the CoinShares XRP ETF will track the performance of XRP based on the Compass Crypto Reference Index XRP, which reflects XRP’s value at 4 PM (NY Time).
In the filing, CoinShares has revealed that it will serve as the official sponsor of the fund, with CSC Delaware Trust Company acting as the trustee. However, the identities of the administrator, transfer agents, marketing agents, and custodian remain undisclosed. Should the SEC grant approval, the ETF’s shares will be available for trading on Nasdaq under a yet-to-be-announced ticker symbol.
The fund will issue shares in blocks of 5,000, exclusively available to authorized participants. The application also notes that an unnamed seed investor, an affiliate of CoinShares, has already made an initial purchase of shares in the fund and later redeemed them for cash. CoinShares cautions potential investors about the risks associated with the ETF, emphasizing the possibility of losing their entire investment.
CoinShares is one of several asset managers applying for spot-based XRP ETFs, joining firms such as Bitwise, WisdomTree, and ProShares in submitting proposals. A total of seven applications have been filed for XRP-specific ETFs, with two additional basket ETFs featuring XRP also in the mix. While the SEC has yet to approve any XRP-only ETF, it has acknowledged applications for the mixed crypto asset ETFs.
XRP holders remain optimistic about the potential approval of an XRP ETF by the SEC, especially with the crypto-friendly stance of President Donald Trump’s administration. Many believe that the appointment of Paul Atkins as SEC Chairman could lead to clearer regulations for the industry and potentially accelerate the resolution of the Ripple lawsuit, which could further pave the way for the approval of XRP ETFs.
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