• The US SEC reviewed Canary Litecoin spot ETF and opened a public comment period.
• Canary Capital’s Litecoin ETF is the first altcoin ETF filing reviewed by the SEC.

The US SEC reviewed Canary Litecoin ETF filing earlier today. It opens a public comment period on the filing for a period of 21 days from the date of publication in the Federal Register. The crypto community is optimistic that the Litecoin ETF will get approval from the SEC.

Investors and market players in the country will be able to comment on the filing during the period of 21 days. The SEC makes the final decision after careful assessment of the Litecoin ETF filing and consideration of the public comments.

Canary Litecoin ETF: The First Altcoin ETF Reviewed by SEC

The Litecoin spot ETF acknowledgement from the US SEC drew attention from top officials and industry leaders within no time. Senior Bloomberg analyst Eric Balchunas reposted a tweet by another Bloomberg ETF analyst James Seyffart on the ETF filing. Balchunas underlined the fact that Litecoin ETF is the first altcoin 19b-4 to be acknowledged.

Furthermore, Balchunas also stated the next important question is how much time the SEC takes for the final approval. The SEC could wait for a full 240 days to complete the process or act faster. After all, the Litecoin ETF has to undergo a few more steps before the final approval.

Canary Capital also drew attention from the community, after filing for spot XRP ETF approval in Oct 2024. With a favorable political environment in the US, we can expect to see more global firms joining the list to file crypto ETFs.

After the Bitcoin spot ETFs approval frenzy at the beginning of 2024, several firms are coming forward to file crypto ETFs. Bitwise, Grayscale and Canary Capital are few of the most renowned companies filing for ETFs, among others.

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