The U.S. Securities and Trade Fee (SEC) has acknowledged Nasdaq’s 19b-4 submitting for the Canary Litecoin ETF. This marks a key step within the strategy of approving a spot Litecoin ETF, because the company now seeks public enter earlier than making a call.
SEC Requests Public Feedback on Canary Litecoin ETF
The SEC has requested for public feedback on the Canary Litecoin ETF submitting. Feedback have to be submitted inside 21 days after the proposal is printed within the Federal Register.
This step is a part of the regulatory course of for approving or rejecting the exchange-traded fund (ETF).
Nasdaq initially submitted the 19b-4 kind on January 16, 2025. This doc is required when an trade requests a rule change to record and commerce a brand new product. As soon as the SEC acknowledges the submitting, the evaluation interval begins, which may take as much as 240 days.
First Altcoin ETF Submitting Acknowledged by SEC
Eric Balchunas, a senior ETF analyst at Bloomberg, famous that that is the primary time the SEC has acknowledged a 19b-4 submitting for an altcoin ETF.
This implies progress within the approval course of for crypto ETFs past Bitcoin and Ethereum.
“Throw within the feedback from SEC on the S-1, and this submitting is by far the furthest alongside checking all of the containers,” Balchunas mentioned in a put up on X. He additionally questioned whether or not the SEC would take the total 240-day evaluation interval or attain a call sooner.
This Is A Creating Information, Please Test Again For Extra
Kelvin Munene Murithi
Kelvin is a distinguished author with experience in crypto and finance, holding a Bachelor’s diploma in Actuarial Science. Recognized for his incisive evaluation and insightful content material, he possesses a robust command of English and excels in conducting thorough analysis and delivering well timed cryptocurrency market updates.
Disclaimer: The offered content material could embrace the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty to your private monetary loss.
✓ Share: