The post Litecoin Price Surges Amid Optimism for ETF Approval appeared on BitcoinEthereumNews.com.

ETF analyst James Seyffart has shared that Canary Capital amended the S-1 filing for its Litecoin ETF, a step that suggests increased engagement from the US Securities and Exchange Commission (SEC). The latest development regarding the proposed Litecoin ETF has sparked optimism in the market. Litecoin Could Be the Next Crypto ETF to Receive SEC Approval Although Seyffart noted that there are “no guarantees,” the amended filing may indicate that the SEC has started reviewing the proposal more closely. “CanaryFunds just filed an amended S-1 for their Litecoin ETF filing. No guarantees — but this might be indicative of SEC engagement on the filing. Still no 19b-4 filing yet though.(A 19b-4 would actually start the potential approval/denial clock) h/t,” Seyffart wrote on Twitter on 16 January. For context, the S-1 filing is a crucial step in the SEC’s approval process for any new investment product. While the amendment itself does not guarantee approval, it does signal that the SEC is paying attention to the proposal.  However, as Seyffart points out, a 19b-4 filing has not yet been submitted. It is a formal request to list and trade the ETF on a national securities exchange. This filing is essential to start the official clock for the SEC’s potential approval or denial of the ETF, meaning the process could still take some time. Canary Capital filed for the Litecoin ETF in October last year, less than a month after it applied for an XRP ETF. Eric Balchunas, another Bloomberg analyst, further supported the idea that the SEC has begun engaging with the Litecoin ETF filing. Balchunas cited “chatter” suggesting that the SEC had provided feedback on the S-1, which he believes strengthens the case for Litecoin to become the next crypto to receive ETF approval.  Balchunas and Seyffart both believe that the…

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Filed under: News - @ January 16, 2025 8:23 am