Litecoin (LTC) Could Become the Next Spot Crypto Exchange-Traded Fund (ETF) to Be Launched in the United States

Nasdaq filed a 19b-4 filing with the US Securities and Exchange Commission (SEC) to launch a crypto exchange-traded fund (ETF) focused on Litecoin (LTC). This move has sparked a 32% gain for LTC in the past seven days.

The filing was submitted on behalf of Canary, an ETF issuer, and it seeks to list the Litecoin ETF on the Nasdaq exchange. This development comes after the SEC approved two spot crypto ETFs in 2023, both of which were linked to Bitcoin (BTC) and Ethereum (ETH).

Now, attention has shifted to the next cryptocurrency that could join the ETF lineup, with Litecoin emerging as a strong contender. According to Bloomberg ETF analyst Eric Balchunas, Litecoin’s ETF filing has “all the boxes checked.”

“First altcoin ETF of 2025 is about to be at the clock. I don’t see any reason why this would be withdrawn either, given the SEC gave comments on the S-1. Litecoin is seen as a commodity, and there’s a new SEC sheriff in town,” Balchunas said in a statement.

The analyst's speculation also comes as reports suggest that the Trump administration is set to approve more altcoin ETFs, with a particular focus on Solana (SOL) and Ripple (XRP).

But the conversation around the next crypto ETF to hit U.S. markets has sparked some debate over whether Dogecoin (DOGE), the 7th largest cryptocurrency by market capitalization, is being left behind.

“Best case, you get an extremely lenient SEC who approves it, along with Elon touting it,” he said in an X post.

The founder of McKay Research, James McKay, shared a similar sentiment, adding that the meme coin would be brought up in discussions for the next four years as the Department of Government Efficiency (DOGE) is being run by Musk.

“DOGE is coming to be in the national conversation for the next 4 years as a minimum via the Federal Government, which is a 2 for 1 pump given the dude running the department is also pushing the crypto,” McKay said.

However, Geraci pointed out that one of the worst-case scenarios for this ETF would be high marketing expenses. This is because DOGE, unlike Litecoin, is a meme coin that experiences high volatility. As a result, an ETF for DOGE could be less appealing to investors seeking to reduce the volatility risk associated with crypto assets.