SEC Acknowledges Litecoin ETF Proposal, Opening Path for Public Feedback

The regulator's recognition of Canary Capital's filing marks progress for the first altcoin ETF application to advance under current guidelines.

The SEC formally acknowledged Canary Capital's application for a spot Litecoin ETF, inviting public comments over a 21-day period.
This marks the first altcoin ETF filing to progress under the SEC's review process, following approvals for Bitcoin and Ethereum ETFs in 2024.
Litecoin's price surged over 11% following the announcement, with trading volume nearly doubling to $1.19 billion.
The ETF aims to simplify Litecoin investment by tracking the CoinDesk Litecoin Price Index and offering exposure through traditional brokerage accounts.
Analysts predict an 85% likelihood of approval in 2025, but the SEC could take up to 240 days to make a final decision.