Canary’s amended S-1 has analysts more confident a Litecoin ETF is next
Canary Capital filed an amended S-1 form for its Litecoin exchange-traded fund (ETF), indicating potential approval for Litecoin as the next digital asset ETF in the U.S. after Bitcoin and Ether in 2024. Analysts from Bloomberg noted that this filing aligns with industry speculation about Litecoin applications being reviewed by the SEC. The approval process requires a 19b-4 filing, which Canary has yet to submit. Meanwhile, Solana is ahead in the ETF approval process, with multiple issuers having filed 19b-4s. Litecoin's price surged over 15% from January 15-16, driven by significant purchases from large holders. The amendment coincides with a leadership change at the SEC, with Paul Atkins expected to foster a more favorable crypto regulatory environment. XRP is also a contender for ETF approval, with analysts predicting substantial net asset inflows for both Solana and XRP ETFs if approved.
