The Securities and Exchange Commission (SEC) has once again delayed its decision on the proposal for the Canary Capital Spot Litecoin (LTC) Exchange Transaction Fund (ETF).
The latest SEC action will take place after regulatory authorities I’ve decided Postponing verdicts on active AltCoin ETF filing Until June 17th, agents are seeking public comment on whether the listing proposal meets regulatory requirements, specifically preventing deceptive and manipulative practices.
“In particular, the Commission is seeking comment on whether the proposal to list and trade stocks in the trust holding the LTC is designed to prevent fraudulent and manipulative conduct and practices, or raises new or new concerns the Commission had not previously considered,” the agency wrote in its submission.
James Seifert’s predictions become reality
The SEC revealed in a statement. Canary Capital proposal For Spot Litecoin (LTC) Exchange-Traded Fund (ETF). In light of the lawsuit, the agency is requesting an investigation into whether NASDAQ’s proposal to list ETFs complies with legal requirements.
Founded last year by former Valkyrie Funds co-founder Steven McClurg, Canary Capital filed the fund’s first paperwork in October.
The decision by the SEC has generated conversations within the Crypto community. James SeifertBloomberg analysts with extensive experience in exchange-traded funds (ETFs), especially those at Bloomberg, provided commentary on the subject.
Based on Seyffart’s argument, he correctly predicted that the SEC would postpone making decisions about the Litecoin ETF.
Furthermore, according to Seyffart, Litecoin is the most likely asset to receive. Early approval. Recently, analysts predicted there is a 90% chance that the LTC ETF will be approved this year, giving a positive outlook on Litecoin prices.
According to Coinmarketcap, Litecoin is currently down 2.2% in 24 hours, trading hands for over $83.
The SEC has delayed Canary Capital’s Litecoin ETF, just like other crypto ETF proposals
The SEC was scheduled to determine the proposed spot for Canary Capital’s Litecoin ETF on May 5th. Meanwhile, market observers were more hopeful. In support of this, Polymarket’s approval odds have risen to the highest level since mid-March.
In January, NASDAQ reportedly filed a proposed rule change, Form 19b-4, to list and trade Canary Litecoin ETF shares. The proposal was then published on the Federal Register on February 4th for public comment. This was the first day of the 45-day review period that ended on March 21st.
However, the SEC has decided to increase this time slot by 45 days and set a new 90-day deadline on May 5th.
statement “In response, the Commission under Article 19(b)(2) of the Act will approve or approve the proceedings to determine changes to the proposed rules on May 5, 2025, specifying the date that the Commission will approve or disapprove (File number SR-NASDAQ-2025-005).” ”
For other cryptocurrency ETF applications, regulators have taken similar steps. The SEC delayed the Bitwise Dogecoin (Doge) proposal until June 15th and the Franklin Templeton’s Spot XRP (XRP) ETF decision until June 17th.
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