Canary Capital’s Spot Litecoin ETF Nears SEC Approval

Canary Capital appears to be making headway in its bid to launch a Litecoin ETF, with recent signs of progress from the U.S. Securities and Exchange Commission (SEC).
The firm submitted an updated filing following feedback from the regulator, a move analysts believe increases the likelihood of approval.
The initial filing for the Litecoin ETF was made in October 2024, with the updated submission reflecting adjustments requested by the SEC. Bloomberg analyst Eric Balchunas has expressed optimism, suggesting the ETF could be next in line for approval. Fellow analyst James Seyffart noted that while the updated filing is promising, a 19b-4 submission would be the clearest sign of impending approval.
The regulatory environment could shift dramatically if Paul Atkins, a pro-crypto nominee for SEC Chair, replaces Gary Gensler next week. This leadership change could accelerate decisions on pending applications, including Canary Capital’s efforts to gain traction in the crypto ETF space.
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Canary Capital is also pursuing approvals for ETFs tied to Solana and XRP. The proposed Solana ETF highlights the blockchain’s growing DeFi ecosystem and high transaction activity, while the XRP ETF aims to provide exposure to the token’s price movements. Both filings reflect the firm’s broader strategy to tap into the increasing demand for crypto-based investment products.
With regulatory engagement underway and potential leadership changes at the SEC, Canary Capital’s efforts could mark a pivotal moment for crypto ETFs in the U.S.