{"id":622677,"date":"2025-01-30T09:47:54","date_gmt":"2025-01-30T09:47:54","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=622677"},"modified":"2025-01-30T09:47:54","modified_gmt":"2025-01-30T09:47:54","slug":"litecoin-surges-11-as-sec-inches-closer-to-canary-litecoin-etf-decision","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/litecoin-surges-11-as-sec-inches-closer-to-canary-litecoin-etf-decision","title":{"rendered":"Litecoin Surges 11% As SEC Inches Closer To Canary Litecoin ETF Decision"},"content":{"rendered":"

Litecoin surged more than 11% in the last 24 hours as the US Securities and Exchange Commission (SEC) moves closer to a decision on the Canary Litecoin ETF (exchange-traded fund).<\/span><\/p>\n

The LTC price pump made the crypto among the top performing cryptos and pushed its value to $128.11 as of 2:03 a.m. EST.<\/span><\/p>\n

\"Litecoin<\/p>\n

SEC Moves Closer To Decision On Canary Litecoin ETF<\/span><\/h2>\n

The SEC has asked for public comments on the proposed Canary Litecoin ETF, bringing the regulator’s decision regarding a potential approval or disapproval one step closer.<\/span><\/p>\n

According to a <\/span>filing<\/span><\/a> posted yesterday by the agency, the SEC will be soliciting comments and has asked for them to be submitted 3 weeks after publication in the Federal Register. <\/span><\/p>\n

If approved, the ETF will offer investors a regulated and simple way to invest in <\/span>Litecoin<\/span><\/a> without having to buy and hold the crypto directly.<\/span><\/p>\n

Canary Proposal Is First Altcoin ETF To Be Acknowledged, Bloomberg Analyst Says<\/span><\/h2>\n

Nasdaq filed a 19b-4 form for the Canary spot Litecoin ETF earlier this month on Jan. 16. Bloomberg analyst Eric Balchunas noted the significance of the SEC asking for public comments in a Jan. 29 X post, and said that it makes the Canary application the first ETF submission for an <\/span>altcoin<\/span><\/a> that the SEC has “acknowledged.”<\/span><\/p>\n

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First alt coin 19b-4 to be acknowledged, rest were told to withdraw by Genz SEC. Throw in the comments from SEC on the S-1 and this filing is by far the furthest along checking all the boxes. Q now is will this SEC wait the full 240 days or approve more rapidly. Unknown. https:\/\/t.co\/iXwq9PkLGr<\/a><\/p>\n

— Eric Balchunas (@EricBalchunas) January 29, 2025<\/a><\/p><\/blockquote>\n