Nasdaq filed a 19b-4 Kind on Jan.16 to record and commerce the spot Litecoin (LTC) exchange-traded fund (ETF) registered by Canary Capital. Bloomberg senior ETF analyst Eric Balchunas sees this as the primary altcoin-related ETF approval in 2025.
Following an replace within the S-1 Kind filed by Canary, Balchunas said that its Litecoin ETF “has all the boxes checked.” He added:
” don’t see any cause why this might be withdrawn both given SEC gave feedback on the S-1, Litecoin is seen as commodity and there’s new SEC sheriff on the town.”
Earlier on Jan. 16, Bloomberg analyst James Seyffart highlighted that the modification on the S-1 Kind was no assure of approval. But, it’s a signal that the US Securities and Trade Fee (SEC) is participating with the matter.
After the Nasdaq submitting information, Seyffart said that it would take a few weeks to substantiate the approval odds, because the SEC nonetheless has to acknowledge the Litecoin ETF utility.
He added that whereas latest Solana (SOL) filings weren’t acknowledged, a Litecoin ETF would possibly extra probably obtain the regulator’s consideration. Seyffart reasoned that LTC will not be topic to the SEC’s accusations that it’s a safety, which boosts its odds.
Litecoin’s value soared by almost 24% prior to now 24 hours, sitting at $129.49 as of press time, in line with CryptoSlate knowledge. That is the biggest every day acquire throughout the 25 largest crypto by market cap.
Wave of approvals
Seyffart and Balchunas predicted a wave of ETF approvals would hit the market in 2025. The almost certainly merchandise to obtain SEC approval had been the blended ETFs, monitoring Bitcoin (BTC) and Ethereum (ETH).
These merchandise obtained their first approvals in 2024 when the regulator authorized Hashdex and Franklin Templeton filings. The next merchandise on the road are Litecoin and Hedera (HBAR), and the prediction is true on monitor.
Funds tied to XRP and SOL are additionally on the record, though analysts consider they could endure delays as a result of SEC lawsuits that think about these crypto as securities.
Nevertheless, President-elect Donald Trump is reportedly contemplating together with XRP, SOL, and USD Coin (USDC) within the US Nationwide Reserve. This may favor the chances of approval for spot XRP and SOL ETFs.
