Excitement is brewing as Litecoin (LTC) positions itself as the frontrunner for the next cryptocurrency exchange-traded fund (ETF) approval. With a regulatory track record free from controversy, Litecoin may leap ahead of competitors like XRP and Solana (SOL), whose legal uncertainties continue to delay their ETF aspirations.
Bloomberg ETF analyst James Seyffart recently revealed that the U.S. Securities and Exchange Commission (SEC) has reviewed the S-1 registration document for a proposed Litecoin ETF. This critical filing, submitted by Canary Capital, outlines financial and compliance details, signaling progress in the approval process. Seyffart commented, “Canary just filed an amended S-1 for their Litecoin ETF application. No guarantees—but this might indicate SEC engagement.”
NEW: @CanaryFunds just filed an amended S-1 for their Litecoin ETF filing. No guarantees — but this might be indicative of SEC engagement on the filing. Still no 19b-4 filing yet though
— James Seyffart (@JSeyff) January 15, 2025
(A 19b-4 would actually start the potential approval/denial clock) h/t @isabelletanlee pic.twitter.com/wFtNOmbmYx
The SEC’s decision timeline adds to the anticipation. Following Nasdaq’s 19b-4 filing to list the spot LTC ETF, the regulatory countdown began on January 15, 2025. The SEC has 45 days for an initial response and up to 240 days for a final ruling. Initial decisions could emerge by March 2025, with final outcomes expected by September.
Grayscale and CoinShares have also joined the race, submitting comprehensive applications for Litecoin ETFs. Grayscale’s proposal builds upon its existing Litecoin Trust, while CoinShares offers an innovative structure for cost-effective LTC investment. These developments underscore growing institutional interest in Litecoin.
LTC’s market performance reflects this optimism. The cryptocurrency recently surged past $120, driven by speculation about its ETF prospects and favorable macroeconomic factors. Trading volume skyrocketed from $450 million to $1.62 billion, with large-scale investors adding over 220,000 LTC to their holdings. Analysts predict further gains if Litecoin breaks above key resistance at $126.45, potentially targeting $150.
Also Read: Litecoin [LTC] Surges 4.18% to $128: Whale Activity and Bullish Indicators Signal More Gains
With its solid regulatory reputation and increasing investor confidence, Litecoin’s path to ETF approval looks promising. As the SEC’s decision approaches, LTC could solidify its place alongside Bitcoin (BTC) and Ethereum (ETH) as a pivotal asset in the crypto ETF landscape.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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