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Canary Litecoin ETF Advances as US SEC Calls for Public Comments – Crypto News

Published

1 year ago

January 30, 2025

Dripp

The U.S. Securities and Exchange Commission (SEC) has acknowledged Nasdaq’s 19b-4 filing for the Canary Litecoin ETF. This marks a key step in the process of approving a spot Litecoin ETF, as the agency now seeks public input before making a decision.

SEC Requests Public Comments on Canary Litecoin ETF

The SEC has asked for public comments on the Canary Litecoin ETF filing. Comments must be submitted within 21 days after the proposal is published in the Federal Register.

This step is part of the regulatory process for approving or rejecting the exchange-traded fund (ETF).

Nasdaq initially submitted the 19b-4 form on January 16, 2025. This document is required when an exchange requests a rule change to list and trade a new product. Once the SEC acknowledges the filing, the review period begins, which can take up to 240 days.

First Altcoin ETF Filing Acknowledged by SEC

Eric Balchunas, a senior ETF analyst at Bloomberg, noted that this is the first time the SEC has acknowledged a 19b-4 filing for an altcoin ETF.

This suggests progress in the approval process for crypto ETFs beyond Bitcoin and Ethereum.

“Throw in the comments from SEC on the S-1, and this filing is by far the furthest along checking all the boxes,” Balchunas said in a post on X. He also questioned whether the SEC would take the full 240-day review period or reach a decision sooner.

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