Litecoin ETF Application Now Has All the Boxes Checked, Review Process Formally Begins: Bloomberg ETF Analyst

Canary Capital's Litecoin ETF is well-positioned to become the first spot crypto ETF approved by the SEC under the incoming Trump administration

Canary Capital’s application for a Litecoin ETF has been submitted to the Nasdaq for listing and trading, according to a 19b-4 form filed with the SEC on Thursday.

The SEC had previously provided feedback on Canary Capital's S-1 filing for the ETF, prompting the firm to submit the amendment.

Following the ETF application, Nasdaq submitted a 19b-4 form to the SEC on Thursday, formally beginning the review process for the Canary Litecoin ETF. The SEC now has 45 days from Federal Register publication to approve or deny the listing, with a possible 45-day extension.

According to Bloomberg ETF analyst Eric Balchunas, the Litecoin ETF application has met all the necessary requirements and conditions for approval.

“Litecoin ETF now has all the boxes checked. The 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 I don’t see any reason why this would be withdrawn either given SEC gave comments on the S-1, Litecoin is seen as commodity and there’s new SEC sheriff in town,” Balchunas wrote on Twitter on Thursday.

Balchunas stated Wednesday that the SEC had provided feedback on Canary Capital's S-1 filing for their proposed Litecoin ETF. This prompted the firm to submit the amendment.

James Seyffart, Balchunas' fellow Bloomberg ETF analyst, noted that “A 19b-4 would actually start the potential approval/denial clock.”

Canary Capital filed its Litecoin ETF S-1 statement with the SEC in October 2023. The amended filing names US Bancorp Fund Services as the ETF administrator, with Coinbase Custody Trust and BitGo serving as custodians for the ETF's Litecoin holdings.