Nasdaq Submits 19b-4 Form for Canary Litecoin ETF
In the latest development, Nasdaq has submitted Form 19b-4 for the proposed Canary Litecoin ETF to the U.S. Securities and Exchange Commission. Notably, the filing kicks off the official review process for Litecoin spot ETF approval. It is worth noting that a 19b-4 filing is the first formal step in obtaining SEC approval for an ETF. The filing therefore begins a 240-day period during which the SEC can approve, deny the application or request additional information. Bloomberg ETF analyst Eric Balchunas described the recent filing as a “positive sign” that Litecoin could become the next cryptocurrency to receive spot ETF approval. The cryptocurrency market reacted positively to the news that Litecoin price surged 15% in the past 24 hours.
