CoinShares has taken a decisive step toward offering regulated XRP exposure to American investors and has officially filed for listing. Coinshare XRP ETF It trades on Nasdaq under the ticker XRPL.
An SEC filing dated Oct. 14 outlines a robust operating structure with BitGo named as custodian, Valkyrie Funds LLC stepping in as a seed capital investor, and CSC Delaware Trust Company serving as trustee. US Bancorp Fund Services will act as administrator, US Bank NA will act as cash custodian and Parallel Distributors will act as marketing agent.
Notably, the trust does not participate in staking, so investors only gain exposure to the spot price of XRP, rather than additional yield.
“Our mission is to make XRP accessible to U.S. institutional investors in a fully compliant, transparent and secure framework,” a CoinShares spokesperson said, positioning the move as a milestone for both the company and the broader digital asset ecosystem.
SEC faces pending decision on spot XRP ETFs
The timing is amazing. The SEC is facing a series of decisions regarding pending spot XRP ETFs, with Grayscale’s filing being ruled on this week, followed by CoinShares, 21Shares, Bitwise, WisdomTree, and Canary Capital between October 18th and 25th. Therefore, the next few days could be crucial for XRP’s long-term position in the US market.
The market has already begun to react. XRP rose 3.23% in the past 24 hours to trade at $2.49, increasing its market cap to $149.24 billion. This marked a sharp rebound from the intraday low of $144.37 billion, with nearly $5 billion in inflows, even as intraday trading volume contracted more than 27% to $5.96 billion.
This rise contrasts with XRP’s broader downward trend, with the token still down 12.9% in seven days and 16.4% over the last month.
Part of the increase can be attributed to deepening institutional involvement. CME Group launched XRP options on October 15th, with Wintermute and Galaxy executing the first trades, demonstrating a new layer of liquidity and hedging demand for the asset. Meanwhile, Ripple is expanding its footprint in Africa through a partnership with Absa Bank, offering a cryptocurrency custody solution that could further strengthen its long-term adoption story.
Technically speaking, the XRP rally has reached a critical juncture. Prices rebounded from the 38.2% Fibonacci retracement level at $2.52, a zone that many traders had earmarked as key support.
