news 
Litecoin ETF Likely To Debut Next As SEC Opens Comment Period For Canary Capital’s Proposed LTC Fund
In a recent development, the U.S. Securities and Exchange Commission (SEC) has opened a comment period for Canary Capital’s proposed Litecoin ETF. This move suggests that Litecoin may be the next cryptocurrency to receive the ETF treatment in the United States, following Bitcoin and Ether in 2024.
Canary Capital had previously submitted its S-1 registration statement with the SEC in October, indicating its intention to provide traditional investors with exposure to the “silver to Bitcoin’s gold.” This came just a week after initiating the process for an XRP-based exchange-traded fund. The Nasdaq exchange then filed a 19b-4 form on January 16th for Canary Capital’s Litecoin ETF.
The acknowledgement by the SEC is a crucial step in the process, marking the second part of a two-step procedure for proposing a spot crypto investment product. The price of Litecoin surged 18.4% following this news, trading at $132.69 as of press time.
Litecoin would become the third spot cryptocurrency ETF to be approved in the United States if this proposal is accepted, after Bitcoin and Ether. However, the question remains whether the regulator will use the entire 240-day review period or expedite the approval process.
Source: zycrypto.com
