Canary Capital has submitted an amended S-1 filing for the Litecoin ETF, potentially making Litecoin the next cryptocurrency to be approved by US regulators after Bitcoin and Ether.
Filing for Litecoin ETF
On January 15, Bloomberg analysts pointed to the filing being considered by the SEC as evidence of potential approval for the Litecoin ETF. Bloomberg ETF analyst Eric Balchunas notes that leadership changes at the SEC could influence the decision on Litecoin.
Market and Litecoin Price Impact
Litecoin saw a rise of approximately 15% over a two-day period, linked to major investors holding more than 250,000 Litecoins. This is roughly valued at $29 million as of January 9, according to Santiment.
Prospects for Crypto ETFs
Industry insiders suggest approval of Solana and XRP ETFs could attract between $3 billion and $8 billion in assets in their first year. For Litecoin, this serves as a sign of its potential future in the crypto ETF market.
Approval of a Litecoin ETF could open new opportunities in the cryptocurrency market, marking it as the next significant cryptocurrency after Bitcoin and Ether.
