The post Nasdaq Files 19b-4 for Canary Litecoin ETF Amid Approval Speculation appeared on BitcoinEthereumNews.com.

Nasdaq has submitted a 19b-4 form to the U.S. Securities and Exchange Commission (SEC) for the proposed Canary Litecoin ETF. This filing, made on behalf of Canary Capital, starts the official review process for the approval of a spot Litecoin exchange-traded fund (ETF).  The submission is a crucial step in the regulatory process and could pave the way for Litecoin to join Bitcoin and Ethereum as the next cryptocurrency with an approved ETF in the United States. Nasdaq Files 19b-4 for Canary Litecoin ETF The 19b-4 form was filed by Nasdaq on January 16 while Canary Capital had submitted an amended S-1 filing earlier in the week. These two filings thus address all the essential elements the SEC considers while evaluating the ETF proposal. As stated in the submission, U.S. Bancorp Fund Services, LLC will perform the function of the fund administrator and U.S. Bank N.A will oversee the cash of the ETF. Coinbase Custody Trust Company LLC will act as the custodian of the Litecoin of the fund. The 19b-4 filing is the first official step that exchange agencies take to receive the SEC’s stamp of approval on ETFs. This filing thus begins the formal 240-day period within which the SEC can either approve the application, reject it, or ask for more information. Bloomberg Senior ETF Analyst Eric Balchunas termed the filing as a “positive signal” in a recent post in X, which indicates that Litecoin might be the next cryptocurrency to get the green signal for a spot ETF. Litecoin Price Rallies as SEC Prepares for Change The filing occurs at a time when the SEC is in the process of changing leadership under the new government under President-elect Donald Trump. Former SEC Commissioner Paul Atkins who has been an advocate for cryptocurrencies has been recommended for the…

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Filed under: News - @ January 17, 2025 7:24 am