The U.S. Securities and Exchange Commission (SEC) has acknowledged Nasdaq’s 19b-4 submitting for the Canary Litecoin ETF. This marks a key step within the means of approving a spot Litecoin ETF, as the company now seeks public enter earlier than making a choice.
SEC Requests Public Comments on Canary Litecoin ETF
The SEC has requested for public feedback on the Canary Litecoin ETF submitting. Comments should be submitted inside 21 days after the proposal is printed within the Federal Register.
This step is a part of the regulatory course of for approving or rejecting the exchange-traded fund (ETF).
Nasdaq initially submitted the 19b-4 kind on January 16, 2025. This doc is required when an trade requests a rule change to record and commerce a brand new product. Once the SEC acknowledges the submitting, the overview interval begins, which might take as much as 240 days.
First Altcoin ETF Filing Acknowledged by SEC
Eric Balchunas, a senior ETF analyst at Bloomberg, famous that that is the primary time the SEC has acknowledged a 19b-4 submitting for an altcoin ETF.
This suggests progress within the approval course of for crypto ETFs past 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 mentioned in a submit on X. He additionally questioned whether or not the SEC would take the total 240-day overview interval or attain a choice sooner.
This Is A Developing News, Please Check Back For More
Kelvin Munene Murithi
Kelvin is a distinguished author with experience in crypto and finance, holding a Bachelor’s diploma in Actuarial Science. Known for his incisive evaluation and insightful content material, he possesses a powerful command of English and excels in conducting thorough analysis and delivering well timed cryptocurrency market updates.
Disclaimer: The introduced content material might embrace the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability for your private monetary loss.
