Canary Capital’s Litecoin ETF could receive the Security and Exchanges Commission’s approval soon.
According to Bloomberg Analyst Eric Balchunas,How much is 1 Bitcoin in dollars Canary Capital recently received feedback from the US regulator on its S-1 form-filling, which bodes well for a Litecoin ETF approval.
We had heard chatter that the Litecoin S-1 had gotten comments back from SEC. This looks to confirm that which bodes well for our prediction that Litecoin is most likely to be the next coin approved. All that said, new SEC chair has yet to start and that's a huge variable. https://t.co/cKFswPwcr0
— Eric Balchunas (@EricBalchunas) January 15, 2025
ETF analyst Balchunas believes a Litecoin ETF will be the next approved fund
In October 2024, Canary Capital submitted an S-1 form filing for its LTC ETF. On Wednesday, the firm submitted an amended S-1 filing to the commission, effecting the proposed amendments made by the regulator.
ETF analyst James Seyffart believes the amended S-1 filing signals the SEC’s engagement with the filing. However, he claimed that a 19b-4 filing would be the ideal hint that the regulator will approve the LTC ETF.
Eric Balchunas, Senior ETF analyst at Bloomberg, expects the Litecoin ETF to be the next SEC’s approved fund. He said:
“We had heard chatter that the Litecoin S-1 had gotten comments back from the SEC. This looks to confirm that, which bodes well for our prediction that Litecoin is most likely to be the next coin approved.” – Eric Balchunas
However, Balchunas claimed that the expected entry of a new SEC chair remains a “huge variable.” Donald Trump has nominated crypto-friendly former SEC commissioner Paul Atkins to lead the agency. If the Senate approves Atkins, he will take over Gary Gensler’s job, which is set to leave next Monday.
Canary Capital had also filed for a Solana ETF in October
In October, Canary Capital also filed for approval of its Solana ETF. According to its Solana ETF filing, the trust emphasized that it aimed to provide exposure to the price of Solana.
The company claimed that Solana’s DeFi ecosystem has contributed to its impressive on-chain analytics, as measured by transactions per day, active addresses, and new addresses while maintaining a low-fee environment for all consumers.
The company is also waiting for approval for its XRP ETF, for which it also filed an S-1 registration statement on October 8.
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