Official Nasdaq announcements and press releases

Canary Capital's Litecoin ETF Advances with SEC Engagement and Nasdaq Filing, Litecoin Surges

Jan 16, 2025, 10:01 AM

Canary Capital has filed an amended S-1 registration form with the U.S. Securities and Exchange Commission (SEC) for a Litecoin exchange-traded fund (ETF), signaling potential engagement from the regulator. Bloomberg ETF analysts Eric Balchunas and James Seyffart suggest that this move could indicate progress toward SEC approval, with Balchunas predicting that Litecoin is likely to be the next cryptocurrency approved for a spot ETF in the U.S. The amended filing addresses custodial arrangements with Coinbase and BitGo, and includes updates on accounting, marketing, legal, and tax provisions to meet SEC standards. The Nasdaq has also submitted a 19b-4 filing for the Canary Litecoin ETF, officially starting the regulatory review process. The potential approval of a Litecoin ETF has led to a significant increase in Litecoin's price, with the cryptocurrency surging 17% in the past 24 hours to reach a four-week high of $120 before stabilizing at $117. Trading volume has also seen a 240% increase, reaching $1.7 billion.