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Litecoin News: SEC Engagement Fuels Optimism for Litecoin ETF
Litecoin ETF Gains Momentum with Nasdaq’s Support
The path to a Litecoin ETF approval gained significant traction as Nasdaq filed a 19b-4 form on behalf of Canary Capital with the U.S. Securities and Exchange Commission (SEC). This marks a critical step in advancing the approval process, following Canary Capital’s initial S-1 filing in October and its subsequent amendment in December. The move signifies that the SEC is actively engaging with the application, fueling optimism within the crypto community.
Understanding the 19b-4 Filing
The 19b-4 filing, submitted by self-regulatory organizations like Nasdaq, proposes rule changes to align with the Exchange Act. This step is crucial for ETFs, as it sets the timeline for the SEC’s review process once acknowledgment is published in the Federal Register. If approved, this ETF would represent a major milestone for Litecoin and the broader crypto industry.
Litecoin’s Current Market Performance
At the time of writing, Litecoin’s price stands at $140.11, with a market cap of $10.56 billion and a 24-hour trading volume of $2.66 billion. This growth reflects increased market interest, driven in part by the potential ETF approval and renewed confidence in the cryptocurrency’s future. With a circulating supply of 75.42 million LTC out of a total supply of 84 million, Litecoin’s ecosystem shows robust activity.
The Significance of a Litecoin ETF
A Litecoin ETF would provide institutional investors with a regulated avenue to gain exposure to Litecoin, potentially boosting its liquidity and adoption. Canary Capital’s ETF proposes Coinbase Custody Trust Company LLC as the custodian for Litecoin, while US Bancorp Fund Services, LLC will handle administration. These partnerships further enhance trust in the ETF’s structure.
Future Prospects
The anticipation surrounding crypto ETFs is growing, with several applications for Spot ETFs like Solana, XRP, and Hedera currently under SEC review. With incoming regulatory changes, including a pro-crypto administration under President Trump and a likely SEC chair shift to Paul Atkins, the chances of a Litecoin ETF approval are increasing.
A successful approval could elevate Litecoin’s price predictions, solidify its market position, and further drive mainstream adoption. Stay tuned as Litecoin continues to make waves in the crypto and financial industries.
