The U.S. Securities and Exchange Commission (SEC) has announced a further delay in its decision regarding Canary Capital’s proposal for a spot Litecoin (LTC) exchange-traded fund (ETF).

This latest development follows a series of delays for other cryptocurrency ETF applications last week, sparking mixed sentiments on whether Litecoin might be treated differently.

However, on the announced deadline, the SEC stated it will require public comments about the proposal’s compliance with regulatory standards.

“In particular, the Commission seeks comment on whether the proposal to list and trade Shares of the Trust, which would hold LTC, is designed to prevent fraudulent and manipulative acts and practices or raises any new or novel concerns not previously contemplated by the Commission,” the agency noted in a filing.

Canary Capital, established by former Valkyrie Funds co-founder Steven McClurg last year, initially submitted paperwork for this fund in October.

LTC, currently valued at a market cap of about $6.6 billion, is the native cryptocurrency of Litecoin, an open-source blockchain technology that derives its code from Bitcoin.

ETF analysts at Bloomberg Intelligence had earlier indicated that Litecoin would likely be the next cryptocurrency wrappped in an ETF. There’s also speculation surrounding SEC Chair Paul Atkins’ recent appointment and how it might influence the agency’s stance toward crypto funds.

The expected approval timeline for pending crypto ETFs has not been clearly defined since Atkins took over from former Chair Gary Gensler.

For anyone interested in the developments, it’s advisable to watch for the upcoming comments and insights into the SEC’s evolving perception of cryptocurrency ETFs.