The Securities and Exchange Commission has acknowledged Canary Capital’s Litecoin ETF proposal, opening public feedback as it inches closer to a possible reality for a U.S. listing.
“This is the first altcoin ETF filing to get acknowledged,” Bloomberg Senior ETF analyst Eric Balchunas said on X, noting that the proposal has made the most progress in meeting regulatory requirements.
Litecoin, often described as the “silver to Bitcoin’s gold,” could represent a logical next step given its long operating history and similarities to Bitcoin’s structure.
The investment management and advisory firm filed its S-1 registration with the regulator in October, flagging its intention to provide investors with a unique opportunity. That came less than a week after Canary Capital applied to launch an XRP ($3.10)-based ETF.
The question now, Balchunas suggests, is whether the SEC will use the entire 240-day review period or “approve more rapidly.”
It comes as regulators continue to shape their approach to crypto investment products following the landmark
