In summary:
Nasdaq has filed a 19b-4 form to list Canary Capital’s Litecoin ETF, consistent with a recent S-1 amendment and feedback from the SEC.
Analysts anticipate SEC approval, positioning Canary as a first-mover in the Litecoin ETF space with significant growth potential.
The ETF buzz has reignited interest in Litecoin, triggering a price surge after months of decline.
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Nasdaq has filed a 19b-4 form to begin trading a Litecoin ETF from Canary Capital today. This comes just hours after Canary amended its S-1 filing, suggesting positive feedback from the SEC.
Multiple analysts have suggested that the SEC will soon approve the fund, making it the first altcoin ETF of 2025.
Canary Capital’s Litecoin ETF
It seems that the path to a Litecoin ETF is nearing its end. This morning, Canary Capital filed an amendment to its S-1 registration with the SEC, signaling a potential approval and generating positive activity from “whales.” ETF analyst Nate Geraci noted that Nasdaq has also filed a 19b-4, requesting the SEC to allow trading of Canary’s Litecoin ETF.
“Litecoin ETF now just going through the motions. First altcoin ETF of 2025 coming soon. I don’t see any reason for this to get pulled back given SEC has commented on S-1, Litecoin is seen as a commodity, and there’s new SEC leadership,”
Eric Balchunas, another ETF analyst, added.
If Canary Capital’s Litecoin ETF is approved by the SEC, it could have a significant impact on the asset’s value. Litecoin has recently been under heavy bearish pressure, including recording its lowest number of daily active addresses since 2023. However, the buzz surrounding this ETF has quickly generated a significant amount of attention, which could spark renewed momentum
However, a Litecoin ETF may not attract as much attention as other altcoin ETFs. Over the years, the protocol has seen less development compared to other networks. Moreover, LTC’s growth has stagnated even in the bull market.
However, a Litecoin ETF has a higher chance of approval as there are fewer hurdles for the SEC to clear. For instance, Litecoin has already been deemed a commodity by the regulator. Therefore, there is no lingering debate about whether the asset should be considered a security.
Canary Capital has been actively pursuing a Litecoin ETF for the past few months. The firm has filed with the SEC for multiple crypto-asset ETFs, from popular contenders like Solana to unorthodox ones like Hedera. Interestingly, Canary is currently the only issuer seeking an LTC-based product, giving it a clear advantage in this market.
If the SEC ultimately approves a Litecoin ETF, Canary Capital will have a major business opportunity. The firm will have first-mover advantage, immediately trading its product while other potential issuers are trying to get theirs online. This does not guarantee long-term success, as Grayscale has significantly underperformed BlackRock despite offering the first Bitcoin ETF.
However, this speculation has brought significant price jumps and whale interest. In conclusion, Canary could win big here. They just need a few more steps from the SEC to kick off a new market. If approved, LTC would become the third cryptocurrency on the market with an ETF in the US market.
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