SEC Misses Deadline to Approve Spot Litecoin ETF due to Government Shutdown

The U.S. Securities and Exchange Commission (SEC) has just missed the deadline to approve the Spot Litecoin ETF from Canary Capital. This situation has become more complicated due to the U.S. government shutdown severely affecting the operations of the regulatory agency.

Impact of the Government Shutdown

Due to the government shutdown, #SEC currently has only a very limited number of personnel operating. This significantly delays the review process of important filings. Analysts believe that even though the approval deadline has passed, the SEC must still prioritize the approval of the S-1 filing (securities registration statement) before any Spot Crypto ETF can officially be released to the public.

New Standards and Future Expectations

According to analyst James Seyffart of #Bloomberg , the old approval deadlines may no longer be very important, as the SEC is moving to apply new common listing standards for all crypto ETF funds. This indicates that the SEC is seeking to standardize the approval process rather than handle each filing individually.

Despite the many uncertainties due to the government shutdown and the new legal processes, the community and issuers remain optimistic. With the Spot Bitcoin and Ethereum ETFs already approved, the general expectation is that Spot ETFs for other major altcoins like Litecoin will soon be launched in the near future, once the operations of the government and SEC return to normal. #anh_ba_cong