Nasdaq filed a 19b-4 Type on Jan.16 to listing and commerce the spot Litecoin (LTC) exchange-traded fund (ETF) registered by Canary Capital. Bloomberg senior ETF analyst Eric Balchunas sees this as the primary altcoin-related ETF approval in 2025.
Following an replace within the S-1 Type filed by Canary, Balchunas acknowledged that its Litecoin ETF “has all of the containers checked.” He added:
” don’t see any motive why this may be withdrawn both given SEC gave feedback on the S-1, Litecoin is seen as commodity and there’s new SEC sheriff on the town.”
Earlier on Jan. 16, Bloomberg analyst James Seyffart highlighted that the modification on the S-1 Type was no assure of approval. But, it’s a signal that the US Securities and Alternate Fee (SEC) is participating with the matter.
After the Nasdaq submitting information, Seyffart acknowledged that it would take a few weeks to substantiate the approval odds, because the SEC nonetheless has to acknowledge the Litecoin ETF software.
He added that whereas latest Solana (SOL) filings weren’t acknowledged, a Litecoin ETF would possibly extra possible obtain the regulator’s consideration. Seyffart reasoned that LTC shouldn’t be topic to the SEC’s accusations that it’s a safety, which boosts its odds.
Litecoin’s worth soared by almost 24% previously 24 hours, sitting at $129.49 as of press time, in keeping with CryptoSlate knowledge. That is the biggest each day acquire inside the 25 largest crypto by market cap.
Wave of approvals
Seyffart and Balchunas predicted a wave of ETF approvals would hit the market in 2025. The most probably merchandise to obtain SEC approval had been the combined ETFs, monitoring Bitcoin (BTC) and Ethereum (ETH).
These merchandise obtained their first approvals in 2024 when the regulator accredited Hashdex and Franklin Templeton filings. The next merchandise on the road are Litecoin and Hedera (HBAR), and the prediction is true on monitor.
Funds tied to XRP and SOL are additionally on the listing, though analysts imagine they could undergo delays as a result of SEC lawsuits that contemplate these crypto as securities.
Nevertheless, President-elect Donald Trump is reportedly contemplating together with XRP, SOL, and USD Coin (USDC) within the US Nationwide Reserve. This could favor the percentages of approval for spot XRP and SOL ETFs.
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