Sign Up on MEXCBreaking: No Litecoin ETF For Now As US SEC Delays Decision On Canary Capital’s LTC ETF
Highlights
- The US SEC has delayed its decision on Canary Capital's Litecoin ETF while seeking comments and rebuttals.
- Bloomberg analyst James Seyffart has predicted that an approval might not come until later in the year.
- A Litecoin ETF has one of the highest odds of an approval from the SEC among crypto ETFs
The launch of a Litecoin ETF remains unknown, as the US Securities and Exchange Commission (SEC) has delayed its decision on Canary Capital’s filing to offer one. The Commission also revealed deadlines for comments and rebuttals on the filing.
US SEC Holds Off On Litecoin ETF Decision
In a release, the Commission revealed that it has delayed making a decision on Canary Capital’s LTC ETF. Following this move, the agency is now seeking a decision on whether Nasdaq’s proposal to list the ETF complies with regulatory requirements. Comments are due by May 26th, while rebuttals are due by June 9th.
Bloomberg analyst James Seyffart had rightly predicted that the SEC would delay a decision on the Litecoin ETF, just like it has done for other crypto ETFs, so far, including Franklin Templeton’s XRP ETF filing.
Seyffart remarked that if any asset has a chance of an early approval, it is Litecoin. As CoinGape reported, the odds of an LTC ETF approval currently stand at 90%, providing a bullish outlook for the Litecoin price. Solana and XRP also boast a 90% chance of approval this year.
The Litecoin price remained unchanged following the SEC’s announcement of a delay on its decision for Canary Capital’s LTC ETF. The coin is currently trading at around $83, down over 3% in the last 24 hours.
- Grayscale’s XRP, SOL, ADA Fund To Begin Trading Tomorrow Following SEC’s Greenlight
- Donald Trump Petitions Supreme Court To Remove Fed Governor Lisa Cook
- Pi Coin Rises As Pi Network Implements Protocol v23 on Testnet
- Tether-Backed Plasma Stablecoin Blockchain Set to Launch on September 25
- Cathie Wood’s Ark Invest Backs Nasdaq-Listed Solmate To Launch $300M Solana Treasury
- Cardano Price Stays Above Ichimoku Cloud as Grayscale ADA ETF Approval Nears
- HBAR Price Prediction as SEC Approves Generic ETF Framework – Analyst Targets $1.80
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
- XRP Price Prediction as Market Longs Hit 78% amid VivoPower Treasury Expansion Launch — Is $4 Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
