Litecoin ETFs could be next crypto funds to launch

Litecoin ETFs could be next crypto funds to launch
Applications have been submitted to the SEC.
JAN 17, 2025
By  Bloomberg

by Isabelle Lee

Nasdaq and Canary Capital Group submitted new filings to the US Securities and Exchange Commission this week that are key to gaining the regulator’s approval for a spot Litecoin ETF.

A so-called form 19b-4, required to be filed by the exchange that would list the fund, was submitted on Wednesday, shortly after an updated registration application known as an S-1 was filed by Canary, a new digital asset-focused investment firm. The SEC must sign off on both before an ETF can start trading.

“This 19b-4 filing from Nasdaq gets things rolling downhill with the SEC, but the SEC still has to acknowledge the filing, which typically happens within a couple weeks,” said Bloomberg Intelligence’s James Seyffart. “If or when the SEC acknowledges this filing we will have more definitive idea of time lines for a potential denial or approval.”

The SEC last year received a number of applications for ETFs tracking cryptocurrencies beyond Bitcoin, from XRP to Solana and Litecoin, but only ended up approving spot-backed funds tied to Ethereum, the second-largest digital token. With a crypto-friendly Trump administration set to take office next week, multiple firms are again lining up try and get so-called altcoin ETFs to market.

 

Copyright Bloomberg News

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