Nasdaq’s Litecoin ETF Near Approval as New SEC Leadership Takes Shape
The post Nasdaq’s Litecoin ETF Near Approval as New SEC Leadership Takes Shape appeared on BitcoinEthereumNews.com.
Following Bitcoin and Ethereum spot ETFs in 2024, the race is on for Trump’s new crypto-friendly administration to approve the next wave of ETFs. Will it be Litecoin or Ripple’s XRP? Nasdaq took a major step this week toward launching the first Litecoin-focused exchange-traded fund (ETF) in 2025 by submitting a 19b-4 form to the U.S. Securities and Exchange Commission (SEC). The proposed Canary Litecoin ETF aims to build on the success of Bitcoin and Ethereum ETFs approved last year, potentially adding another commodity-backed product to the growing roster of crypto investment vehicles. Canary Capital’s amended S-1 filing preceded Nasdaq’s submission, and the SEC has reportedly provided detailed feedback—an indicator that regulators are actively engaging with the proposal. Similarly, Bitwise has filed for an XRP ETF that looks likely to be approved in early 2025. Analysts’ View on Litecoin ETFs Analysts say this mirrors the agency’s prior reviews of Bitcoin and Ethereum ETFs, which ultimately led to their approvals. Litecoin’s status as a commodity rather than a security could streamline the path to authorization and distinguish it from cryptocurrencies facing ongoing regulatory scrutiny. There is also a changing of the guard underway at the SEC. Paul Atkins, a former commissioner known for a comparatively favorable stance on digital assets, is expected to become the new chair under the incoming Trump administration. He would replace Gary Gensler, whose tenure was marked by stricter oversight of crypto markets. Observers suggest this shift in leadership may increase the odds of a swift and positive decision for Litecoin’s ETF application. Market Response to Approval News In anticipation of an approval, Litecoin has seen a surge in both retail and institutional interest. Market data indicates that the coin’s price jumped by 18 percent over a 24-hour period, while large investors, or “whales,” reportedly added significant…
Filed under: News - @ January 18, 2025 3:24 pm