On January 16, Nasdaq submitted a Form 19b-4 to propose the listing and trading of the Canary Litecoin ETF, signaling progress in the ETF’s approval process. This move follows Canary Capital’s amendment of their S-1 filing for the same ETF on January 15. It indeed suggests active engagement with the U.S. Securities and Exchange Commission (SEC).
Eric Balchunas, Senior ETF Analyst at Bloomberg, weighed in on the development via X (formerly Twitter), highlighting its significance for the crypto market. “Litecoin ETF now has all the boxes checked,” he stated. “The first altcoin ETF of 2025 is about to be on the clock. I don’t see any reason why this would be withdrawn either, given SEC gave comments on the S-1, litecoin is seen as a commodity, and there’s a new SEC sheriff in town.”
Litecoin ETF now has all the boxes checked. The first alt coin ETF of 2025 is about to be on the clock. I don’t see any reason why this would be withdrawn either given SEC gave comments on the S-1, litecoin is seen as commodity and there’s new SEC sheriff in town. https://t.co/DaE7jxlb9s
— Eric Balchunas (@EricBalchunas) January 16, 2025
The filing amendment, according to Balchunas, appears to validate rumors of SEC feedback on the S-1 document. He remarked, “We had heard chatter that the Litecoin S-1 had gotten comments back from SEC. This looks to confirm that, which bodes well for our prediction that Litecoin is most likely to be the next coin approved.”
The Litecoin ETF’s trajectory remains dependent on regulatory scrutiny, particularly as the SEC transitions under its newly appointed chair. Balchunas acknowledged this uncertainty, noting, “All that said, the new SEC chair has yet to start, and that’s a huge variable.” This marks a significant step for altcoin-based ETFs in the U.S., with LTC positioned as a potential pioneer in the category.
Also Read: SEC Nears Approval of Litecoin ETF: Sources