Overview

• The SEC has postponed its decision on Canary Capital's spot Litecoin ETF application, originally due on May 5, 2025, opting to solicit public comments instead.
• This delay aligns with the SEC's established pattern of extending review periods for altcoin ETF applications, including recent cases involving XRP and Dogecoin.
• Litecoin, a proof-of-work cryptocurrency launched in 2011 as a Bitcoin fork, is described by the SEC as 'very similar' to Bitcoin, bolstering its ETF candidacy.
• Market sentiment remains optimistic, with Bloomberg analysts assigning a 90% likelihood of approval and Polymarket bettors estimating an 80% chance by 2025.
• Despite the delay, Litecoin's price has risen modestly, outperforming Bitcoin and Ethereum, which saw slight declines in the same period.