SEC formally acknowledges Litecoin and XRP ETF filings by CoinShares

The U.S. Securities and Exchange Commission has formally recognized Litecoin and XRP exchange-traded fund filings submitted by CoinShares, adding to a growing list of pending applications based on Ripple’s native token.

On Feb. 19, the Securities and Exchange Commission officially acknowledged 19b-4 documents filed by the Nasdaq on behalf of CoinShares to list spot exchange-traded funds based on (LTC) and Ripple’s (XRP).

19b-4 forms, also known as proposed rule changes, account for one step in a two-part process for listing and trading new investment products. Registration of securities, or S-1 filings, typically form the other half, filed directly by prospective issuers.

After adding the CoinShares Litecoin ETF and CoinShares XRP ETF to the Federal Register, the Securities and Exchange Commission will initiate a 21-day comment period for public feedback on the filings. The agency has already acknowledged spot XRP exchange-traded fund applications from multiple firms, including 21Shares, Bitwise, and Grayscale. It also recognized filings for spot Litecoin funds from Grayscale and Canary Capital.

Issuers set their eyes on new crypto ETFs on Wall Street following the massive success of spot Bitcoin (BTC) and spot Ethereum (ETH) ETFs last year. The return of President Donald Trump as the first U.S. crypto president has also encouraged firms to test new waters.

Bloomberg analysts Eric Balchunas and James Seyffart estimate a 90% chance that the Securities and Exchange Commission will approve Litecoin exchange-traded funds. The pair previously projected approval odds for spot Bitcoin funds, which ultimately proved correct.

While Litecoin funds have the highest likelihood of approval, XRP products are also expected to receive the agency’s nod. Bloomberg analysts estimate a 65% probability of approval for spot XRP exchange-traded funds.