#Litecoin #InfoAboutCrypto

SEC Formally Accepts Canary Capital's Litecoin ETF Application

The US Securities and Exchange Commission (SEC) has formally accepted Canary Capital's application for a Litecoin (LTC) spot exchange-traded fund (ETF). This marks a significant step in bringing altcoin assets into traditional investment markets.

Bloomberg ETF analyst Eric Balchunas stated that this is the first cryptocurrency ETF application outside of Bitcoin (BTC) and Ethereum (ETH) to be recognized by the SEC. He also noted that he is waiting to see if the ETF's approval will be faster or follow the standard 240-day rule.

"This is a significant development as it marks a major milestone in the approval process for cryptocurrency ETFs," Balchunas tweeted on X on Thursday (30/01).

The Litecoin ETF application aims to eliminate technological barriers that often hinder mainstream investors. With a simpler mechanism, investors can gain exposure to Litecoin without needing a digital wallet or understanding cryptographic keys.

Previously, Nasdaq submitted a request through Form 19b-4 on January 15 as part of a crucial step in the approval process. This rule ensures transparency and investor protection through disclosure mechanisms and a public comment period.