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- Nasdaq files with the SEC to list a CoinShares XRP ETF, citing the decentralized nature and massive liquidity of the cryptocurrency.
- The ETF would enable investors to gain exposure to XRP without directly holding the asset, boosting institutional adoption.
Nasdaq has entered the ETF race with a bold move to support XRP, filing with the SEC to list the CoinShares XRP ETF. According to the filing, Nasdaq argues that XRP’s decentralized network and vast liquidity pool make it even harder to manipulate than Bitcoin or Ethereum.
The proposed ETF would follow its price action, offering an inexpensive way for investors to access the market. It would be listed under Nasdaq Rule 5711(d) upon approval, which includes Commodity-Based Trust Shares.
The ETF structure includes third-party custody, daily NAV disclosure, and oversight by Compass Financial Technologies, making it a secure and transparent investment product. Nasdaq is showing that it believes XRP can resist market manipulation by listing XRP alongside Bitcoin and Ethereum ETFs.
XRP’s Edge Over Solana, Cardano, and Litecoin in ETF Race
The SEC’s approval of this application would possibly redefine the cryptocurrency’s position in institutional finance. With increasingly more crypto ETFs being proposed, the spotlight is on how XRP stands in comparison to other digital assets. Solana, Cardano, and Litecoin are also vying to receive ETF approvals, but analysts and market sentiment overwhelmingly favor Ripple’s native token.
Despite Ripple’s ongoing legal battle with the SEC, analysts note that the ETF approval process has not been impacted. The cryptocurrency’s legal status as “not a security” eliminates a significant hurdle, according to legal expert Jeremy Hogan. However, Nasdaq’s filing, along with increasing market confidence, makes a strong case for the approval of XRP’s ETF.
There is norhing left in the lawsuit that, legally, would effect an ETF approval. All that's left are very specific sales by Ripple on exchanges. "XRP.. is not a security" and that's the most important thing vis a vis an ETF approval.
— Jeremy Hogan (@attorneyjeremy1) February 11, 2025
Interestingly, traders on Polymarket are now putting an 80% chance of Ripple winning ETF approval, which indicates broad optimism. Bloomberg’s Eric Balchunas puts the chances of the approval of the ETF this year at 65%. If approved, the step can help establish Ripple’s native token as a leader in the crypto ETF sector.
Growing Institutional Interest
Institutional demand for XRP has been consistently increasing, and Nasdaq and CBOE have filed multiple ETF proposals. Major asset managers like Bitwise, 21Shares, and WisdomTree have also entered the scene. All of these proposals point to a broader trend: institutional investors are becoming more comfortable with digital assets like XRP as investment vehicles.
ALSO: Four XRP 19b-4's were just filed by @CBOE. They join Grayscale's XRP trust conversion application which was filed last week. https://t.co/ygdhdBWlgA
— James Seyffart (@JSeyff) February 6, 2025
The CoinShares XRP ETF will make it simpler to invest in the cryptocurrency, eliminating any complexity that is associated with directly holding the asset. The product has the potential to onboard a new set of investors into the Ripple ecosystem, bringing about higher adoption and liquidity.
XRP’s Price Cycle Echoes 2017 Breakout Patterns
Market participants are now speculating how far the cryptocurrency can surge if the ETF is accepted. The cryptocurrency is currently trading at $2.41 and has increased over 365% in the yearly chart.
Social media is full of forecasts; even some are speculating a price as high as $99, a 3,900% increase from current prices. While such a target is speculative, the parallels with past price cycles are hard to ignore.
Analyst Javon Marks noted that the cryptocurrency’s recent price action is drawing parallel with its 2017 breakout. The cryptocurrency has always used previous all-time highs as resistance before it pushed to new highs, according to him. If history repeats, then it is possibly setting itself up for a huge price explosion, driven by growing institutional interest and the potential ETF approval.
