SEC Punts on Canary Capital Litecoin ETF Approval
Summary
The U.S. Securities and Exchange Commission delayed its decision on approving a new Litecoin exchange-traded fund (ETF) proposed by Canary Capital. This delay is a common step in the approval process for such applications. The SEC has numerous altcoin ETF applications to review, following the successful launch of spot Bitcoin ETFs and subsequent approval of Ethereum ETFs. Asset managers like Bitwise, Franklin Templeton, Grayscale, and 21Shares are seeking approval for crypto ETFs targeting coins such as Solana, XRP, and Cardano. Litecoin, a proof-of-work cryptocurrency and the 25th largest by market cap, is currently trading at over $83.
