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Nasdaq Submits 19b-4 Form for Canary Litecoin ETF
In a recent development, Nasdaq has filed a 19b-4 form with the US Securities and Exchange Commission (SEC) for the proposed Canary Litecoin ETF. This move initiates the official review process for the approval of a spot Litecoin ETF.
The 19b-4 filing marks the first step towards securing the SEC’s nod on the ETF, which will now enter a 240-day period. During this time, the regulatory body can either approve the application, reject it, or request additional information from the applicant.
Industry analyst Eric Balchunas of Bloomberg has described this move as a “positive signal” for Litecoin, hinting that it could be poised to become the next cryptocurrency to receive approval for a spot ETF. The market reaction to this news has been overwhelmingly positive, with Litecoin’s price surging 15% in the past 24 hours.
While the crypto community remains hopeful about the prospects of the proposed ETF, it is crucial to acknowledge that regulatory approvals are notoriously unpredictable and subject to change based on various factors.
In any case, the filing of the 19b-4 form serves as a significant development for Litecoin enthusiasts and institutional investors alike.
Source: coinpedia.org
