Canary Litecoin ETF Moves Closer to Approval as Nasdaq Submits Critical 19b-4 Form to SEC

The Canary Litecoin ETF is moving closer to becoming the first altcoin exchange-traded fund (ETF) approved in 2025. Nasdaq has submitted the critical 19b-4 form to the U.S. Securities and Exchange Commission (SEC), a significant step in the regulatory process.

The Canary Litecoin ETF is inching closer to becoming the first altcoin exchange-traded fund (ETF) approved in 2025. Nasdaq has submitted the critical 19b-4 form to the U.S. Securities and Exchange Commission (SEC), a significant step in the regulatory process.

This development follows Canary Capital’s amended S-1 filing, signaling readiness to meet the SEC’s stringent requirements. With Litecoin classified as a commodity and a new crypto-supportive SEC chair expected to take charge, the chances of approval appear stronger than ever.

Breaking: Litecoin ETF Now Has All The Boxes Checked. First Alt Coin ETF Of 2025 Is About To Be On The Clock. I Don't See Any Reason Why This Would Be Withdrawn Either Given SEC Gave Comments On The S-1, Litecoin Is Seen As Commodity And There's New SEC Sheriff In Town. Https://T.Co/DaE7jxlb9s

The 19b-4 filing, published in the Federal Register, enables the SEC to begin its review formally. The filing also specifies that U.S. Bancorp Fund Services, LLC, will serve as the ETF’s administrator, with U.S. Bank N.A. managing its cash holdings.

Furthermore, Coinbase Custody Trust Company LLC has been chosen to manage Litecoin storage for the ETF. These arrangements showcase the solid infrastructure backing the proposed fund.

Nasdaq’s 19b-4 filing is the second stage in the ETF approval process. This filing enables the SEC to formally begin its review after publication in the Federal Register. The filing also specifies that U.S. Bancorp Fund Services, LLC, will serve as the ETF’s administrator, with U.S. Bank N.A. managing its cash holdings.

The ETF will have its Litecoin holdings managed by Coinbase Custody Trust Company LLC, highlighting the robust infrastructure supporting the fund.

Canary Capital originally submitted its S-1 filing in October 2024, and the SEC has since provided detailed comments, showing active engagement with the application.

This interaction increases the likelihood of approval, as similar feedback processes preceded the approval of Bitcoin and Ethereum ETFs in 2024. The success of these prior ETFs has set a favorable precedent, further strengthening Litecoin’s chances.

Shifts in SEC Leadership May Boost Approval Odds

Changes at the SEC could play a critical role in the ETF’s approval. Former SEC Commissioner Paul Atkins, known for his favorable stance on cryptocurrency, is expected to become the new SEC chairman under the incoming Trump administration.

This leadership change follows Gary Gensler’s term, which was marked by stricter crypto regulations. Analysts predict the new administration will bring a more supportive approach to crypto assets.

Market watchers, including Bloomberg’s Eric Balchunas, anticipate high approval odds for the Litecoin ETF. The SEC’s acknowledgment of Canary Capital’s filings and rising interest across the crypto community point to Litecoin’s potential as the next major ETF in the space.

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