CoinShares Reveals Ticker and Custodian Ahead of SEC Ruling

Altcoins

CoinShares is moving closer to launching the first U.S. spot XRP exchange-traded fund, filing new documents with the Securities and Exchange Commission (SEC) that reveal the fund’s ticker, partners, and structure ahead of a potential Nasdaq debut.

According to an S-1 amendment filed on October 14, the proposed ETF will trade under the ticker XRPL, with BitGo serving as the crypto custodian and Valkyrie Funds LLC providing seed capital. While the fund’s management fee has not yet been disclosed, the filing hints that it may be payable in XRP once terms are finalized.

CoinShares confirmed that the trust will not participate in staking programs, meaning investors will not receive staking rewards or additional income. The filing also names CSC Delaware Trust Company as trustee, U.S. Bancorp Fund Services as transfer agent and administrator, Paralel Distributors as marketing agent, and U.S. Bank NA as cash custodian.

The XRP ETF race is now entering a decisive stage. The SEC’s final deadline for Grayscale’s XRP ETF arrives this week, while decisions on applications from 21Shares, Bitwise, WisdomTree, CoinShares, and Canary Capital are expected between October 18 and 25.

Market analysts expect the regulator could approve multiple XRP ETFs at once if the government shutdown concludes soon. Institutional interest has remained strong, with XRP funds recording $61.6 million in inflows last week, even as the wider crypto market suffered its steepest correction of the year.

If approved, CoinShares’ XRP ETF would mark another milestone in the rapid institutional adoption of digital assets, extending the momentum seen with Bitcoin and Ethereum ETFs into the broader altcoin market.

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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.

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Source: https://coindoo.com/xrp-etf-news-coinshares-reveals-ticker-and-custodian-ahead-of-sec-ruling/