Overview

The Securities and Exchange Commission (SEC) may potentially be reviewing a litecoin ETF filing, as indicated by recent changes from Canary Funds. ETF analysts from Bloomberg suggest that this could mean litecoin is the next cryptocurrency earmarked for an ETF.

Key Insights

• Analysts at Bloomberg believe the litecoin ETF is gaining traction within the SEC.
• The speculation arises as new leadership at the SEC could influence the approval process for ETFs aimed at cryptocurrencies.
• With a current market cap of $8.8 billion, litecoin ranks as the 11th largest cryptocurrency according to the CoinDesk 20 index.

"Canary Funds just filed an amended S-1 for their litecoin ETF filing. No guarantees — but this might be indicative of SEC engagement on the filing," said Seyffart on X.

"We had heard chatter that the litecoin S-1 had received a response from the SEC," added Balchunas.

In addition, the Nasdaq stock exchange has submitted a 19b-4 form for Canary Funds' litecoin ETF, placing the SEC in a position to either approve or reject it within the coming year, marking an 18% increase in LTC within the past 24 hours.

Furthermore, litecoin serves as a fork of bitcoin, utilizing a similar protocol and not being classified as a security by the SEC unlike other notable cryptocurrencies such as solana and ripple.

Update: The article has been updated to include the latest information regarding Nasdaq's filing.