Canary Litecoin ETF Now Acknowledged by SEC to Move Forward to Approval

Canary Litecoin ETF Now Acknowledged by SEC to Move Forward to Approval

Key Points:

  • The SEC has acknowledged Canary Litecoin ETF’s proposal, allowing for public feedback as it moves closer to a potential U.S. listing.
  • The proposal follows Canary Capital’s October filing and comes shortly after a similar application for an XRP-based ETF.

The Securities and Exchange Commission (SEC) has officially acknowledged Canary Capital’s proposal for a Litecoin exchange-traded fund (ETF).

Read more: Grayscale Litecoin ETF Now Seeking Approval as ETF Race Intensifies 

SEC Reviews Canary Litecoin ETF Proposal

Canary Capital, an investment management and advisory firm, filed the necessary S-1 registration with the SEC in October, outlining its intent to offer investors a new investment avenue. This filing followed closely on the heels of Canary’s application for an XRP-based ETF.

The SEC’s decision on the Canary Litecoin ETF will come within the next 240 days as the regulatory process moves forward. The acknowledgement of the proposal, following similar actions on other cryptocurrency ETFs, has already had an impact on Litecoin’s market performance. Since Nasdaq filed its 19b-4 form related to the ETF, Litecoin’s value surged by 12%.

Litecoin ETF Proposal Gains Traction with SEC Acknowledgment

Litecoin, often referred to as the “silver to Bitcoin’s gold,” has gained attention due to its long history and structural similarities to Bitcoin, making it a logical candidate for an ETF.

The move opens the floor to public feedback as the agency reviews the application, which could set the stage for Litecoin’s broader integration into the U.S. financial landscape.

Grayscale, another major ETF issuer, also submitted its application for a Solana ETF last week.

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