The United States Stock Exchange and Securities Commission (SEC) is inviting public comments on the ETF of Canary Litecoin, indicating progress in the agency’s decision -making process regarding its approval or rejection.
According to a presentation of January 29, 2025, the SEC has established a period of public comments of 21 days after the publication of the proposal in the Federal Registry.
The measure follows the presentation of Nasdaq 19B-4 on January 16, what is A critical step in the two -stage approval process for a spot Crypto ETF. Form 19B-4, presented by exchanges on behalf of the Issuers, triggers the sec review process of the SC once recognized and published.
EXPLORE: The best new cryptocurrencies to invest in 2025
The presentation of Nasdaq becomes the first ETF of Altcoin to achieve the key stage of secation of the SEC
Eric Balchunas, an ETF senior analyst in Bloomberg, said in X that the presentation of Nasdaq marks the first ETF Altcoin to reach this stage. He stressed that, together with the comments of the S-1, the request is further than any previous attempt to launch an ETF for a cryptocurrency beyond Bitcoin and Ethereum.
“The key question now is whether the SEC will use the full 240 -day review period or approve it more quickly,” Balchunas wrote, adding that the result remains uncertain.
The first Alt 19B-4 currency that was recognized, Genz Sec. P Now is this sec that wait for the full 240 days or approve it more quickly. A stranger.
– Eric Balchunas (@ericbalchunas) January 29, 2025
Currently, the SEC is reviewing multiple ETF applications of encryption, including those linked to Solana (Sol) and XRP, as well as More speculative proposals, such as the ETF of Memecoin leveraged linked to the brands of Donald Trump and Melania Trump before a potentially friendly Trump administration with cryptography.
Under the leadership of the interim president Mark Uyeda, the SEC has changed the cryptoptic position of former President Gary Gensler.
Uyeda recently appointed Republican Commissioner Hester Peirce to lead a newly formed cryptographic working group, even more indicating a possible regulatory change.
The SEC previously approved Bitcoin ETF in January 2024, followed by ETFS Ethereum later that year, which increases the expectations of the industry for the approvals of broader cryptographic ETF.
EXPLORE: 10 coins with high returns: Crypto Funtast 2025
Bitcoin ETF of Blackrock’s Spot saw more than $ 37 billion in net tickets in 2024
Ishares Bitcoin Trust (ibit) of Blackrock emerged as the dominant player in the cryptocurrency ETF market, registering more than $ 37 billion In net tickets in 2024.
The Wise originated by Fidelity Bitcoin Fund (FBTC) secured second place in almost $ 12 billion in net tickets. Other important Bitcoin funds also saw notable tickets during the past year.
Blackrock’s domain extended beyond the Bitcoin ETFs. Its Ishares Ethereum Trust (ETHA) also led the package in the ETF Ether category, obtaining $ 3.5 billion in net tickets. The Ethereum Fidelity Fund (Feth) continued with $ 1.5 billion.
EXPLORE: Buy and use bitcoin anonymously / without identification
The SEC publication seeks public contributions on the ETF of Canary Litecoin before the decision first appeared in 99bitcoins.
