- Nasdaq has presented a 19B-4 form for the proposed ETF Canary Litecoin.
- Recently, the SEC asked Canary Capital to amend the S-1 form of the proposed LITECIN ETF.
- The initial presentation for the ETF Canary Litecoin was made in October 2024.
Nasdaq has taken a fundamental step by Present a 19B-4 form For the proposed ‘Canary Litecoin ETF’, pointing out the beginning of the review process of the US stock and securities commission. (SEC).
This presentation occurs just after Canary Capital modified its S-1 form, completing the necessary duo of the documents required for the consideration of the SEC.
Form 19B-4, presented on Wednesday, describes that US Bancorp Fund Services, LLC, will act as an administrator for the ETF, with US Bank Na in charge of administering the cash assets of the fund. Custody of the real litecoin for the ETF will be handled by Coinbase Custody Trust Company LLC.
Canary Litecoin ETF is part of the growing list of proposed cryptographic ETF
This Nasdaq and Canary Capital movement is part of a broader trend in which multiple companies are pressing for ETF spot based on several cryptocurrencies, including Solana and XRP, amid the speculation that the Trump incoming administration could be more favorable towards cryptographic regulations.
The SEC has previously given the green light to the Bitcoin ETFs in January 2024 and ETFS Ethereum later that year, racing the way for other cryptography based financial products.
Bloomberg’s ETF senior analyst Eric Balchunas, has expressed optimism about the perspectives of the ETF of Litecoin, declaring in x That feedback of the SC on form S-1 is a good omen for approval. However, he also pointed out that the imminent change in the leadership of the SC could introduce significant variables.
Gary Gensler’s mandate as president of the SEC concluded on Monday, and President -elect Donald Trump nominated Paul Atkins, a former SEC commissioner known for his friendly views with cryptography, to take charge. The ATKINS confirmation audience could occur in March, potentially influencing the regulatory climate of cryptocurrencies.
Canarian capital Initial presentation For the Litecoin ETF it occurred in October 2024, marking the beginning of this regulatory trip.
With the 19b-4 and S-1 forms now instead, the approach changes to the SEC, where the process will take place in the coming months. This presentation is a critical milestone to bring conventional investors through a regulated financial product, highlighting the growing intersection between traditional finances and digital asset space.
