Litecoin (LTC) is up 16.4% to $117 after Canary Capital filed an amended S-1 registration statement for the Litecoin ETF with the SEC.
The statement includes an updated custody agreement between Coinbase Custody Trust and #Bitgo . Analysts believe the amendments point to SEC involvement, but caution that the approval process is still in its early stages.
#Litecoin (LTC) recently suffered from the approval of the Litecoin #ETF , which Price has risen significantly due to growing optimism around the opportunity. Canary Capital's recent amended registration statement on Form S-1 filed with the U. S. Securities and Exchange Commission has caused the cryptocurrency market to rebound, and the value of #LTC has risen significantly.
January 15, 2025, Canary Capital filed an amended registration statement on Form S-1 for the proposed Litecoin ETF. A registration statement on Form -1 was filed. The amendment is seen as an important step toward obtaining approval from the SEC.
The amendment includes an update to the custody agreement between Coinbase Custody Trust and BitGo, stating that the custody agreement meets SEC standards. While the amendment itself does not guarantee approval, it indicates that the SEC is actively reviewing the proposal.
news of the amendment filing had an immediate impact on the price of Litecoin. After the announcement, LTC rose by 16.4% to reach $117. This price jump reflects the market's optimism about the likelihood of ETF approval and positive sentiment about Litecoin's future. He noted that the SEC's feedback on Form S-1 supports the possibility of Litecoin becoming the next cryptocurrency to get ETF approval. However, both analysts cautioned that the approval process is still in its early stages and a formal 19b-4 filing is required for a formal SEC decision.
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