(Bloomberg) — Nasdaq and Canary Capital Group submitted new filings to the US Securities and Exchange Commission this week that are key to gaining the regulator’s approval for a spot Litecoin ETF.
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A so-called form 19b-4, required to be filed by the exchange that would list the fund, was submitted on Wednesday, shortly after an updated registration application known as an S-1 was filed by Canary, a new digital asset-focused investment firm. The SEC must sign off on both before an ETF can start trading.
“This 19b-4 filing from Nasdaq gets things rolling downhill with the SEC, but the SEC still has to acknowledge the filing, which typically happens within a couple weeks,” said Bloomberg Intelligence’s James Seyffart. “If or when the SEC acknowledges this filing we will have more definitive idea of time lines for a potential denial or approval.”
The SEC last year received a number of applications for ETFs tracking cryptocurrencies beyond Bitcoin, from XRP to Solana and Litecoin, but only ended up approving spot-backed funds tied to Ethereum, the second-largest digital token. With a crypto-friendly Trump administration set to take office next week, multiple firms are again lining up try and get so-called altcoin ETFs to market.
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