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Nasdaq Files 19b-4 For Canary Litecoin ETF, SEC Review Pending
On January 16, Nasdaq submitted a Form 19b-4 to propose the listing and trading of the Canary Litecoin ETF, signifying 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, indicating active engagement with the U.S. Securities and Exchange Commission (SEC).
According to Eric Balchunas, Senior ETF Analyst at Bloomberg, this development holds significant implications 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 I don’t see any reason why this would be withdrawn either, given SEC gave comments on the S-1, litecoin is seen as a commodity, and there’s a new SEC sheriff in town.”
Balchunas further emphasized that the filing amendment 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 trajectory of the Litecoin ETF 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.
It remains to be seen how the SEC will review this filing.
Source: www.cryptonewsz.com
