SEC Delays Decision on Canary Capital’s Litecoin ETF Proposal
The U.S. Securities and Exchange Commission (SEC) has officially postponed its decision on the Litecoin ($LTC ) spot ETF proposed by Canary Capital, according to journalist Eleanor Terrett via X (formerly Twitter).
The SEC is still reviewing whether the proposed California Nasdaq-listed fund meets regulatory compliance standards. The new deadline for public comments is set for May 26, 2024, with a rebuttal deadline of June 9, 2024.
Bloomberg ETF analyst James Seyffart noted that this delay aligns with the SEC’s broader pattern of pushing back decisions on multiple crypto ETF applications. However, he also identified Litecoin as one of the few altcoins with a higher likelihood of early approval, citing its long track record and regulatory clarity.
This move mirrors previous delays by the SEC on crypto ETFs, including Franklin Templeton’s XRP ETF application. While not unexpected, these extensions signal the agency’s continued caution in expanding access to crypto assets through traditional financial instruments.
