๐บ๐ธ BREAKING: SEC Misses Deadline for Canary Capital's Spot $LTC ETF
The SEC failed to meet the October 2 deadline for approving Canary Capitalโs spot Litecoin ETF amid the ongoing U.S. government shutdown.
Bloomberg analysts note that old 19b-4 deadlines may now be irrelevant as the SEC transitions to new generic listing standards, potentially speeding up approvals for crypto ETFs in the future.
๐ Key Highlights:
Government Shutdown Impact: SECโs limited staff has delayed the decision on new crypto products.
ETF Applications in Limbo: Over 90 crypto ETF applications, including Litecoin, Solana, and Dogecoin, remain pending.
New Listing Standards: Exchanges may now list commodity-based ETFs without individual 19b-4 filings, making previous deadlines less relevant.
Analyst Optimism: Bloomberg ETF analyst Eric Balchunas suggests odds of approval for spot crypto ETFs, including $LTC, have risen significantly under the new standards.
๐ก Takeaway:
The SECโs delay creates short-term market attention on Litecoin, while the transition to generic listing standards could pave the way for smoother ETF approvals later this year.