In a latest development, Nasdaq has submitted a Form 19b-4 to the US SEC for the proposed Canary Litecoin ETF. Notably, this filing initiates the official review process for approval of a spot Litecoin ETF. Notably, the 19b-4 filing is the first official step in obtaining SEC approval on ETFs. This filing therefore starts the 240-day period during which the SEC can either approve the application, reject it or request more information. Bloomberg ETF analyst Eric Balchunas described the recent filing as a “positive signal,” suggesting that Litecoin could be the next cryptocurrency to receive approval for a spot ETF. The crypto market reacted positively to the news that the price of Litecoin jumped 15% in the last 24 hours.
