Canary Capital’s Litecoin ETF Nears SEC Approval
Nasdaq filed a Form 19b-4 today to begin trading Canary Capital’s Litecoin ETF. The SEC’s fruitful feedback comes just hours after Canary revised its S-1 form.
Several analysts say the SEC will soon approve the fund, making it the first altcoin ETF in 2025.
Canary Capital’s Litecoin ETF
it seems like The Road to Litecoin ETF It’s almost over. Earlier today, Canary Capital files amendment Submit an S-1 registration form to the SEC indicating possible approval and Generate bullish whale activity.
ETF analyst Nate Geraci famous Subsequently, Nasdaq also submitted a Form 19b-4 requesting the SEC to allow trading of Canary’s Litecoin ETF.
“The Litecoin ETF now ticks all the boxes. The first altcoin ETF is coming in 2025. Given the SEC comments on the S-1, Litecoin being considered a commodity, and there’s a new SEC Sheriff in town, I “I see no reason to withdraw the bill.” additional Eric Balchunas, ETF analyst.
If Canary Capital’s Litecoin ETF wins SEC approval, it could Significant impact on asset prices. Recently, Litecoin Subject to significant bearish pressureincluding the lowest number of daily active addresses since 2023.
However, this ETF craze has quickly generated a lot of hype, which may spark new momentum.
However, the Litecoin ETF may not have as much participation as other altcoin ETFs. Over the years, the protocol has seen less development compared to other networks. Furthermore, LTC’s growth has been stagnant even in the bull market.
However, a Litecoin ETF is more likely as there are fewer hurdles to SEC approval for the fund. Litecoin, for example, has been deemed a commodity by regulators. Therefore, there is no lingering debate as to whether the asset should be considered an asset. Safety.
Owned by Canary Capital Actively seeking Litecoin ETF It’s been months. The company has submitted applications for multiple crypto-asset ETFs to the SEC, from Common candidates like Solana arrive Unorthodox, such as Hedera. Interestingly, Canary currently The only issuer seeking LTC-based productsgiving it a clear advantage in this market.
If the SEC finally approves a Litecoin ETF, Canary Capital will have a huge business opportunity. The company will enjoy a first-mover advantage, trading its products immediately, while other potential issuers scramble to get their products online.
That’s no guarantee of long-term success, as Grayscale has lagged significantly compared to BlackRock despite launching its first-ever Bitcoin ETF.
Nonetheless, these rumors have caused significant price increases and whale interest. In short, the Canaries could win big here. It only takes a few more steps from the SEC to launch the new market. If approved, LTC would become the third cryptocurrency on the market to have an ETF in the U.S. market.
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