Hassan Maishera
TL;DR
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NASDAQ has filed a 19b-4 form on behalf of Canary Capital for its Litecoin ETF.
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The ETF will grant investors exposure to Litecoin, one of the leading and oldest cryptocurrencies.
NASDAQ Files 19b-4 Form for Canary Litecoin ETF with SEC
NASDAQ, a leading exchange in the United States, has filed the 9b-4 form on behalf of Canary Capital for the 'Canary Litecoin ETF' with the U.S. Securities and Exchange Commission (SEC).
The form is necessary to enable the regulator to approve a spot Litecoin ETF. According to the fund, U.S. Bancorp Fund Services, LLC will be the administrator and U.S. Bank N.A. will custody the ETF's cash. Coinbase Custody Trust Company LLC will custody the ETF's litecoin.
This latest development comes months after Canary Capital amended the S-1 form and submitted it to the SEC. A 19b-4 filing is a document filed by exchanges on behalf of issuers. Once filed, after acknowledgment from the SEC and when published in the Federal Register, the time starts counting for the agency's approval process.
Following the approval of spot Bitcoin and Ether ETFs in 2024, several firms have applied for different crypto spot ETFs, including ones based on Solana and XRP, among others. The move comes as asset managers prepare for a crypto-friendly Trump administration
Bloomberg Senior ETF Analyst Eric Balchunas believes that a Litecoin ETF could be the next crypto spot ETF approved in the United States. He stated that,
“We had heard chatter that the Litecoin S-1 had gotten comments back from [the] SEC. This looks to confirm that, which bodes well for our prediction that Litecoin is most likely to be the next coin approved. All that said, the new SEC chair has yet to start, and that's a huge variable.”
We had heard chatter that the Litecoin S-1 had gotten comments back from SEC. This looks to confirm that which bodes well for our prediction that Litecoin is most likely to be the next coin approved. All that said, new SEC chair has yet to start and that's a huge variable. https://t.co/cKFswPwcr0
— Eric Balchunas (@EricBalchunas) January 15, 2025
Canary Capital filed its Litecoin ETF S-1 statement with the SEC in October 2024. Litecoin’s LTC is the 19th-largest cryptocurrency by market cap and is trading at $127 per coin.
