The U.S SEC led by Mark Uyeda as the Acting Chair, acknowledged the Canary Spot Litecoin ETF filed by Nasdaq. This is after the commission requested for public comments about the Nasdaq-filed Canary LTC ETF on Jan. 29, 2025.
The acknowledgement was confirmed by James Seyffart, a correspondent at Bloomberg. James stated, “can confirm. @CanaryFunds Litecoin ETF 19b-4 filing has been acknowledged by the SEC (As expected),”
Following the public comment stage which is set to last 21 days after being published on the Federal Register, the SEC will move into the next stage for LTC ETF. This stage usually involves the decision making process which could last up to 240 days.
Crypto ETF Filings Are On The Rise
Crypto ETFs are a major way for firms to invest in cryptocurrencies in a safe manner. With the SEC now led by a pro-crypto Acting Chair, the market prospects for more ETF approvals in 2025.
Besides the Canary LTC ETF, other recent ETF filings include Tuttle Capital’s ETFs which contain cryptocurrencies like LTC, XRP, BONK as well as TRUMP memecoin. Another recent ETF filing is the Cboe BZX Exchange Solana ETF which now has 86% chance of getting approved as per Polymarket data.
Despite optimism for approval prevailing in the ETF market, the market will have to wait patiently awaiting SEC’s decision. The fact that the US SEC approved Bitcoin and Ethereum ETFs in 2024 gives SOL, XRP and LTC ETF enthusiasts more hope.
LTC Surges By Over 18% After Canary LTC SEC Acknowledgement
Data on Coinmarketcap indicates that Litecoin (LTC) is priced at $132.90. This price demonstrates a strong 18.87% hike since the Thursday session kicked-off. LTC’s price is rallying towards an important resistance level which is around $135, reflecting a strong upward momentum.
LTC has also achieved a 185.01% surge in trading volume reaching $1.56 billion over the last 24 hours. According to the dramatic rise in trading volume, market participants are showing increased interest.
On the other hand, Litecoin has a market capitalization of $10.03 billion. The LTC tokens in circulation amount to 75.47 million.
Following the recent surge fueled by Canary Spot LTC ETF acknowledgment by US SEC, the coin is aiming for prices above $140. However, market participants are urged to keep a close eye on other factors since pullbacks could occur at any moment.
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